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

Allspring Global Investments Holdings LLC cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 21.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 108,397 shares of the biotechnology company's stock after selling 30,411 shares during the period. Allspring Global Investments Holdings LLC owned about 0.14% of Axon Enterprise worth $58,664,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new position in shares of Axon Enterprise in the first quarter valued at approximately $1,110,000. CX Institutional bought a new position in shares of Axon Enterprise in the first quarter valued at approximately $115,000. Blue Trust Inc. grew its holdings in shares of Axon Enterprise by 33.1% in the first quarter. Blue Trust Inc. now owns 169 shares of the biotechnology company's stock valued at $89,000 after acquiring an additional 42 shares in the last quarter. Xponance Inc. grew its holdings in shares of Axon Enterprise by 3.5% in the fourth quarter. Xponance Inc. now owns 16,469 shares of the biotechnology company's stock valued at $9,788,000 after acquiring an additional 560 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $540.99, for a total transaction of $5,409,900.00. Following the sale, the chief executive officer now owns 3,063,982 shares in the company, valued at $1,657,583,622.18. This trade represents a 0.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Jennifer H. Mak sold 75 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the sale, the chief accounting officer now owns 15,240 shares in the company, valued at $11,762,384.40. The trade was a 0.49% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,642 shares of company stock worth $30,500,428. Corporate insiders own 5.70% of the company's stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $818.60 on Monday. Axon Enterprise, Inc has a one year low of $279.02 and a one year high of $820.83. The business has a fifty day moving average price of $714.97 and a 200-day moving average price of $630.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.83 and a quick ratio of 2.62. The firm has a market capitalization of $63.73 billion, a P/E ratio of 197.73, a PEG ratio of 94.23 and a beta of 1.29.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The biotechnology company reported $1.41 EPS for the quarter, topping analysts' consensus estimates of $1.34 by $0.07. Axon Enterprise had a return on equity of 5.81% and a net margin of 14.86%. The firm had revenue of $603.63 million during the quarter, compared to analyst estimates of $585.67 million. During the same period last year, the company earned $1.15 earnings per share. The business's revenue for the quarter was up 31.3% on a year-over-year basis. As a group, equities research analysts forecast that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analysts Set New Price Targets

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

About Axon Enterprise

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.

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