Allspring Global Investments Holdings LLC Reduces Holdings in Axon Enterprise, Inc $AXON

Allspring Global Investments Holdings LLC reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 42.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,494 shares of the biotechnology company’s stock after selling 45,903 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.08% of Axon Enterprise worth $48,457,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AXON. Jennison Associates LLC boosted its stake in shares of Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company’s stock valued at $322,961,000 after purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in shares of Axon Enterprise during the first quarter valued at $264,796,000. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of Axon Enterprise during the second quarter valued at $255,833,000. Westfield Capital Management Co. LP boosted its stake in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company’s stock valued at $487,977,000 after purchasing an additional 212,931 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company’s stock valued at $4,540,005,000 after purchasing an additional 185,571 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer directly owned 3,053,982 shares in the company, valued at approximately $2,538,744,696.78. The trade was a 0.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brittany Bagley sold 5,000 shares of the business’s stock in a transaction dated Monday, September 29th. The stock was sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the completion of the transaction, the chief financial officer owned 93,592 shares of the company’s stock, valued at $66,813,456.96. This represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,932 shares of company stock valued at $45,115,616 in the last three months. 5.70% of the stock is currently owned by insiders.

Axon Enterprise Stock Performance

Shares of Axon Enterprise stock opened at $704.67 on Wednesday. The company has a market capitalization of $55.32 billion, a PE ratio of 173.99, a P/E/G ratio of 27.57 and a beta of 1.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95. The company has a 50-day simple moving average of $751.62 and a two-hundred day simple moving average of $715.98. Axon Enterprise, Inc has a one year low of $422.38 and a one year high of $885.91.

Axon Enterprise (NASDAQ:AXON) last announced its earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts’ consensus estimates of $1.54 by $0.58. The business had revenue of $668.54 million during the quarter, compared to the consensus estimate of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on AXON shares. Bank of America boosted their target price on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, August 6th. Raymond James Financial restated an “outperform” rating and issued a $855.00 price objective (up from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Piper Sandler assumed coverage on Axon Enterprise in a report on Tuesday, September 23rd. They issued an “overweight” rating and a $893.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on Axon Enterprise from $730.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, Needham & Company LLC restated a “buy” rating and issued a $870.00 price objective on shares of Axon Enterprise in a report on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus price target of $841.64.

Axon Enterprise Company 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.