Allspring Global Investments Holdings LLC Has $43.27 Million Position in Axon Enterprise, Inc $AXON

Allspring Global Investments Holdings LLC decreased its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 2.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,835 shares of the biotechnology company’s stock after selling 1,659 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Axon Enterprise were worth $43,274,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Vestor Capital LLC increased its holdings in shares of Axon Enterprise by 438,636.3% during the 2nd 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 during the last quarter. Norges Bank bought a new stake in shares of Axon Enterprise during the 2nd quarter worth approximately $637,806,000. McElhenny Sheffield Capital Management LLC bought a new stake in Axon Enterprise during the second quarter worth $255,833,000. Vanguard Group Inc. boosted its stake 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 valued at $7,399,515,000 after buying an additional 305,252 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of Axon Enterprise by 129.2% in the 2nd quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock valued at $444,124,000 after purchasing an additional 302,420 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Axon Enterprise Price Performance

AXON stock opened at $567.93 on Friday. The firm has a market capitalization of $44.82 billion, a P/E ratio of 179.73, a price-to-earnings-growth ratio of 130.44 and a beta of 1.41. Axon Enterprise, Inc has a 12 month low of $469.24 and a 12 month high of $885.91. The firm has a 50 day moving average of $589.33 and a 200-day moving average of $695.84. The company has a current ratio of 3.12, a quick ratio of 2.89 and a debt-to-equity ratio of 0.57.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Morgan Stanley reduced their price target on Axon Enterprise from $760.00 to $713.00 and set an “overweight” rating on the stock in a report on Wednesday, December 17th. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday. Barclays dropped their target price on shares of Axon Enterprise from $861.00 to $702.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of Axon Enterprise in a research note on Monday, September 29th. Finally, Cowen reaffirmed a “buy” rating on shares of Axon Enterprise in a research report on Wednesday, November 5th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $802.71.

Insider Activity at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,134 shares of Axon Enterprise stock in a transaction on Friday, December 19th. The shares were sold at an average price of $600.00, for a total value of $680,400.00. Following the transaction, the chief accounting officer directly owned 13,740 shares of the company’s stock, valued at $8,244,000. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $551.92, for a total value of $5,519,200.00. Following the transaction, the chief executive officer directly owned 3,110,997 shares of the company’s stock, valued at $1,717,021,464.24. The trade was a 0.32% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 60,540 shares of company stock worth $35,632,038 over the last three months. Corporate insiders own 4.40% of the company’s stock.

Axon Enterprise 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.