Penserra Capital Management LLC Decreases Stock Holdings in Axon Enterprise, Inc $AXON

Penserra Capital Management LLC reduced its position in Axon Enterprise, Inc (NASDAQ:AXON) by 30.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,855 shares of the biotechnology company’s stock after selling 2,164 shares during the period. Penserra Capital Management LLC’s holdings in Axon Enterprise were worth $3,483,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Axon Enterprise by 3.5% in the second quarter. Vanguard Group Inc. now owns 8,937,260 shares of the biotechnology company’s stock worth $7,399,515,000 after purchasing an additional 305,252 shares during the last quarter. Geode Capital Management LLC increased its position in Axon Enterprise by 5.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,072,186 shares of the biotechnology company’s stock valued at $1,713,332,000 after buying an additional 115,349 shares in the last quarter. Jennison Associates LLC raised its stake in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after buying an additional 330,213 shares during the last quarter. Vestor Capital LLC boosted its holdings 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 worth $690,170,000 after acquiring an additional 833,409 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Axon Enterprise during the second quarter worth about $637,806,000. Institutional investors own 79.08% of the company’s stock.

Insider Activity

In related news, President Joshua Isner sold 20,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $552.60, for a total transaction of $11,052,000.00. Following the completion of the transaction, the president directly owned 249,502 shares in the company, valued at approximately $137,874,805.20. This trade represents a 7.42% decrease in their ownership of the stock. 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 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 transaction, the director directly owned 1,316 shares of the company’s stock, valued at $724,629.08. The trade was a 7.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 50,540 shares of company stock valued at $28,774,338 over the last 90 days. Company insiders own 4.40% of the company’s stock.

Axon Enterprise Trading Down 7.2%

NASDAQ AXON opened at $399.65 on Friday. The company has a market capitalization of $31.54 billion, a PE ratio of 126.47, a P/E/G ratio of 12.97 and a beta of 1.48. The company has a fifty day moving average of $570.77 and a 200 day moving average of $660.96. Axon Enterprise, Inc has a 1 year low of $397.82 and a 1 year high of $885.91. The company has a debt-to-equity ratio of 0.57, a current ratio of 3.12 and a quick ratio of 2.89.

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

Wall Street Analyst Weigh In

Several brokerages recently commented on AXON. UBS Group decreased their price objective on shares of Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. William Blair reaffirmed an “outperform” rating on shares of Axon Enterprise in a report on Tuesday. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a report on Wednesday, November 5th. Wall Street Zen downgraded Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Royal Bank Of Canada started coverage on Axon Enterprise in a research report on Monday, November 17th. They set an “outperform” rating and a $860.00 price target for the company. Fifteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Company Profile

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.