Axon Enterprise, Inc $AXON Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 13.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,940 shares of the biotechnology company’s stock after purchasing an additional 15,762 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Axon Enterprise were worth $57,580,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Baillie Gifford & Co. boosted its position in shares of Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock valued at $932,869,000 after purchasing an additional 1,516,099 shares during the period. Edgewood Management LLC acquired a new stake in Axon Enterprise during the 4th quarter worth about $846,516,000. Wellington Management Group LLP raised its holdings in Axon Enterprise by 326.9% during the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after buying an additional 1,179,038 shares during the period. Norges Bank purchased a new stake in Axon Enterprise during the fourth quarter valued at about $515,764,000. Finally, Sands Capital Management LLC lifted its stake in Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock valued at $914,047,000 after buying an additional 167,095 shares in the last quarter. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Axon Enterprise

In related news, insider Elizabeth Reid Coughlin sold 1,554 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider directly owned 34,024 shares of the company’s stock, valued at approximately $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Joshua Isner sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the transaction, the president owned 169,125 shares in the company, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 in the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Trading Down 5.8%

Shares of NASDAQ AXON opened at $510.28 on Friday. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The firm has a market capitalization of $41.13 billion, a PE ratio of 204.93, a PEG ratio of 10.41 and a beta of 1.38. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $471.67 and a two-hundred day moving average price of $481.88.

Axon Enterprise (NASDAQ:AXON) last issued its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.90 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s quarterly revenue was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.47 EPS. As a group, analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AXON shares. Weiss Ratings raised shares of Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Citizens Jmp restated a “market outperform” rating and issued a $700.00 price target on shares of Axon Enterprise in a research report on Thursday, June 25th. Piper Sandler raised their price objective on shares of Axon Enterprise from $674.00 to $724.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. TD Cowen decreased their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th. Finally, Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $600.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Fifteen analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $725.25.

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.