Prudential PLC Sells 1,047 Shares of Axon Enterprise, Inc $AXON

Prudential PLC reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 3.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 32,985 shares of the biotechnology company’s stock after selling 1,047 shares during the period. Prudential PLC’s holdings in Axon Enterprise were worth $18,733,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Baillie Gifford & Co. increased its stake in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after acquiring an additional 1,516,099 shares during the period. Norges Bank acquired a new stake in shares of Axon Enterprise in the fourth quarter worth $515,764,000. Vanguard Group Inc. increased its stake in shares of Axon Enterprise by 4.2% in the third quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock worth $6,684,217,000 after acquiring an additional 376,904 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Axon Enterprise by 23.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 838,289 shares of the biotechnology company’s stock worth $476,089,000 after acquiring an additional 156,647 shares during the period. Finally, Westfield Capital Management Co. LP increased its stake in shares of Axon Enterprise by 14.0% in the fourth quarter. Westfield Capital Management Co. LP now owns 831,177 shares of the biotechnology company’s stock worth $472,051,000 after acquiring an additional 102,025 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

AXON has been the topic of a number of research reports. Royal Bank Of Canada cut their price objective on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 price objective on shares of Axon Enterprise in a research note on Thursday, May 7th. Craig Hallum reiterated a “buy” rating and issued a $820.00 price objective on shares of Axon Enterprise in a research note on Wednesday, February 25th. Robert W. Baird set a $800.00 target price on shares of Axon Enterprise in a report on Wednesday, February 25th. Finally, Piper Sandler cut their target price on shares of Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating for the company in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise currently has an average rating of “Moderate Buy” and an average price target of $712.75.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $513.20 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93. The firm has a market cap of $41.36 billion, a price-to-earnings ratio of 206.10, a price-to-earnings-growth ratio of 8.75 and a beta of 1.45. The company has a 50 day moving average price of $407.52 and a 200-day moving average price of $491.96. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.01. The firm had revenue of $807.35 million during the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The business’s quarterly revenue was up 33.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.47 EPS. Equities research analysts forecast that Axon Enterprise, Inc will post 1.82 EPS for the current year.

Insider Activity

In related news, Director Erika Nardini sold 198 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $506.58, for a total value of $100,302.84. Following the completion of the sale, the director owned 1,946 shares of the company’s stock, valued at approximately $985,804.68. The trade was a 9.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeri Williams sold 629 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $469.64, for a total transaction of $295,403.56. Following the completion of the sale, the director directly owned 1,141 shares of the company’s stock, valued at approximately $535,859.24. The trade was a 35.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 3,548 shares of company stock valued at $1,542,775 in the last quarter. Company insiders own 4.20% of the company’s stock.

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.