87,570 Axon Enterprise, Inc $AXON Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring cut its Axon stake by 50.3%, selling 87,570 shares in the third quarter and ending the period with 86,636 shares valued at about $36.6 million. Institutional investors collectively own 79.08% of the stock.
• Axon’s latest quarter missed analyst expectations: earnings were $1.72 per share versus a $1.89 consensus, and revenue was $908.6 million versus estimates of $934.3 million, despite 27.8% year-over-year revenue growth.
• Analyst opinion remains broadly positive but mixed: 13 analysts rate the stock Buy and four Hold, for a “Moderate Buy” consensus and an average price target of $612.18. Company insiders also sold 37,397 shares worth about $21.2 million over the last quarter.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 50.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 86,636 shares of the biotechnology company's stock after selling 87,570 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.11% of Axon Enterprise worth $36,579,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Keating Financial Advisory Services Inc. acquired a new stake in Axon Enterprise in the second quarter valued at approximately $31,000. Washington Trust Advisors Inc. increased its holdings in shares of Axon Enterprise by 1,300.0% during the second quarter. Washington Trust Advisors Inc. now owns 70 shares of the biotechnology company's stock worth $39,000 after buying an additional 65 shares in the last quarter. M & L Capital Management Ltd bought a new position in shares of Axon Enterprise in the 3rd quarter valued at $30,000. Wealth Enhancement Trust Services Inc. bought a new position in shares of Axon Enterprise in the 3rd quarter valued at $33,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Axon Enterprise in the 2nd quarter valued at $45,000. 79.08% of the stock is currently owned by institutional investors.

Insider Activity at Axon Enterprise

In related news, President Joshua Isner sold 16,775 shares of the stock in a transaction on Monday, August 31st. The stock was sold at an average price of $574.43, for a total value of $9,636,063.25. Following the transaction, the president directly owned 296,974 shares in the company, valued at $170,590,774.82. This trade represents a 5.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 10,000 shares of Axon Enterprise stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $508.99, for a total transaction of $5,089,900.00. Following the completion of the sale, the chief executive officer directly owned 3,118,012 shares of the company's stock, valued at approximately $1,587,036,927.88. The trade was a 0.32% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 37,397 shares of company stock worth $21,234,034 over the last quarter. 4.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have commented on AXON shares. Northcoast Research increased their target price on Axon Enterprise from $650.00 to $680.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Barclays cut their price target on Axon Enterprise from $688.00 to $507.00 and set an "overweight" rating on the stock in a research note on Monday. Royal Bank Of Canada dropped their price objective on shares of Axon Enterprise from $735.00 to $615.00 and set an "outperform" rating for the company in a report on Friday, November 6th. Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, November 3rd. Finally, Weiss Ratings reiterated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Tuesday, November 3rd. Thirteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $612.18.

Key Stories Impacting Axon Enterprise

Investors following AXON have been watching these stories:

• Positive Sentiment: Axon’s integrated public-safety hardware and software ecosystem, along with continued revenue growth, are cited as reasons it could remain a long-term growth company despite its 2026 share-price decline. 3 Superior Growth Stocks That Can Outperform for the Next 10 Years
• Neutral Sentiment: Axon is investing $1.2 billion for a 37% stake in drone maker Skydio and will distribute its products to U.S. public-safety customers. The deal could broaden Axon’s offering, but its sizeable cost makes the investment a factor for investors to weigh. Axon invests $1.2B into Skydio and becomes its U.S. public safety distributor
• Negative Sentiment: Several law firms have announced investigations into potential securities-law claims related to Axon’s earnings report. These are allegations under investigation, not findings of wrongdoing, but add a source of uncertainty for investors. Levi & Korsinsky investor investigation notice

Axon Enterprise Stock Up 4.3%

Shares of NASDAQ AXON opened at $315.42 on Thursday. The company's 50 day moving average price is $426.24 and its 200-day moving average price is $470.65. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.60 and a current ratio of 3.00. Axon Enterprise, Inc has a 52-week low of $291.45 and a 52-week high of $665.07. The company has a market capitalization of $25.68 billion, a P/E ratio of 101.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share for the quarter, missing analysts' consensus estimates of $1.89 by ($0.17). Axon Enterprise had a return on equity of 3.87% and a net margin of 7.56%. The business had revenue of $908.55 million for the quarter, compared to analyst estimates of $934.33 million. During the same quarter in the previous year, the business posted $1.17 earnings per share. The business's revenue was up 27.8% on a year-over-year basis. Equities analysts forecast that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Axon Enterprise Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals. The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.