Jennison Associates LLC Buys 330,213 Shares of Axon Enterprise, Inc $AXON

Jennison Associates LLC raised its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 53.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 943,944 shares of the biotechnology company’s stock after purchasing an additional 330,213 shares during the period. Jennison Associates LLC owned 1.20% of Axon Enterprise worth $677,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Axon Enterprise by 3.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after buying an additional 305,252 shares during the last quarter. Geode Capital Management LLC boosted its stake in Axon Enterprise by 5.9% in the second quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock valued at $1,713,332,000 after acquiring an additional 115,349 shares in the last quarter. Vestor Capital LLC boosted its stake in Axon Enterprise by 438,636.3% in the second quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after acquiring an additional 833,409 shares in the last quarter. Norges Bank acquired a new position in shares of Axon Enterprise during the second quarter worth $637,806,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in shares of Axon Enterprise by 22.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 680,983 shares of the biotechnology company’s stock valued at $563,813,000 after purchasing an additional 126,601 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CAO Jennifer H. Mak sold 1,134 shares of the firm’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $600.00, for a total transaction of $680,400.00. Following the sale, the chief accounting officer directly owned 13,740 shares in the company, valued at $8,244,000. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeri Williams sold 100 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $550.63, for a total value of $55,063.00. Following the completion of the sale, the director owned 1,316 shares of the company’s stock, valued at $724,629.08. This trade represents a 7.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 60,540 shares of company stock worth $34,684,738. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise Price Performance

Shares of AXON opened at $613.14 on Friday. The business’s 50-day moving average is $576.17 and its two-hundred day moving average is $676.93. The company has a market capitalization of $48.38 billion, a P/E ratio of 194.03, a P/E/G ratio of 19.12 and a beta of 1.41. Axon Enterprise, Inc has a fifty-two week low of $469.24 and a fifty-two week high of $885.91. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 EPS for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). The company had revenue of $710.64 million during the quarter, compared to analysts’ expectations of $704.83 million. Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The firm’s quarterly revenue was up 30.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. Research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AXON shares. Morgan Stanley dropped their target price on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 17th. Royal Bank Of Canada initiated coverage on shares of Axon Enterprise in a report on Monday, November 17th. They set an “outperform” rating and a $860.00 price objective on the stock. Northcoast Research raised shares of Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price objective for the company in a research report on Tuesday, January 6th. JMP Securities reissued a “market outperform” rating and set a $825.00 target price on shares of Axon Enterprise in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. Fourteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and an average target price of $805.71.

About Axon Enterprise

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.