Allspring Global Investments Holdings LLC Decreases Stock Position in Axon Enterprise, Inc (NASDAQ:AXON)

Allspring Global Investments Holdings LLC lowered its stake in Axon Enterprise, Inc (NASDAQ:AXON) by 21.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,397 shares of the biotechnology company’s stock after selling 30,411 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Axon Enterprise were worth $58,664,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AXON. Pinion Investment Advisors LLC boosted its position in Axon Enterprise by 3.0% during the 1st quarter. Pinion Investment Advisors LLC now owns 649 shares of the biotechnology company’s stock valued at $341,000 after acquiring an additional 19 shares in the last quarter. Kentucky Retirement Systems boosted its position in Axon Enterprise by 0.4% during the 1st quarter. Kentucky Retirement Systems now owns 4,953 shares of the biotechnology company’s stock valued at $2,605,000 after acquiring an additional 19 shares in the last quarter. HBK Sorce Advisory LLC boosted its position in Axon Enterprise by 4.6% during the 1st quarter. HBK Sorce Advisory LLC now owns 451 shares of the biotechnology company’s stock valued at $237,000 after acquiring an additional 20 shares in the last quarter. Beacon Pointe Advisors LLC boosted its position in Axon Enterprise by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company’s stock valued at $513,000 after acquiring an additional 22 shares in the last quarter. Finally, Interchange Capital Partners LLC boosted its position in Axon Enterprise by 1.9% during the 4th quarter. Interchange Capital Partners LLC now owns 1,310 shares of the biotechnology company’s stock valued at $779,000 after acquiring an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on AXON. Bank of America lifted their price objective on Axon Enterprise from $750.00 to $895.00 and gave the company a “buy” rating in a research report on Wednesday, June 4th. Needham & Company LLC lifted their target price on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Barclays lifted their target price on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Craig Hallum lowered shares of Axon Enterprise from a “buy” rating to a “cautious” rating in a report on Monday, March 10th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $699.55.

Axon Enterprise Stock Performance

AXON stock opened at $818.60 on Monday. The stock has a market capitalization of $63.73 billion, a PE ratio of 197.73, a price-to-earnings-growth ratio of 94.23 and a beta of 1.29. Axon Enterprise, Inc has a 12-month low of $279.02 and a 12-month high of $820.83. The company has a current ratio of 2.83, a quick ratio of 2.62 and a debt-to-equity ratio of 0.68. The stock’s 50 day simple moving average is $714.97 and its 200 day simple moving average is $630.42.

Axon Enterprise (NASDAQ:AXON) last released its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.07. The business had revenue of $603.63 million for the quarter, compared to analysts’ expectations of $585.67 million. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.15 EPS. As a group, research analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction on Monday, April 21st. The shares were sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the completion of the sale, the chief executive officer now directly owns 3,063,982 shares in the company, valued at approximately $1,657,583,622.18. The trade was a 0.33% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Joshua Isner sold 9,000 shares of the business’s stock in a transaction on Monday, May 12th. The shares were sold at an average price of $683.31, for a total transaction of $6,149,790.00. Following the sale, the president now owns 308,714 shares of the company’s stock, valued at approximately $210,947,363.34. This represents a 2.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,642 shares of company stock valued at $30,500,428. 5.70% of the stock is owned by corporate insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.