Assenagon Asset Management S.A. Has $40.37 Million Stock Position in Axon Enterprise, Inc $AXON

Key Points

• Assenagon Asset Management cut its Axon Enterprise stake by 54.2% in the first quarter, selling 112,384 shares and leaving it with 95,045 shares worth about $40.37 million.
• Despite that reduction, institutional ownership remains high at 79.08%, and several large funds such as Baillie Gifford, Wellington, and Norges Bank recently increased or initiated major positions in AXON.
• Analysts remain broadly positive on Axon: the stock carries an average Moderate Buy rating with a $712.75 average price target, while the company also posted better-than-expected quarterly earnings and revenue growth of 33.7% year over year.

Assenagon Asset Management S.A. cut its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 54.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,045 shares of the biotechnology company's stock after selling 112,384 shares during the period. Assenagon Asset Management S.A. owned 0.12% of Axon Enterprise worth $40,365,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in AXON. Baillie Gifford & Co. lifted its holdings in shares of Axon Enterprise by 1,198.7% during the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock worth $932,869,000 after buying an additional 1,516,099 shares in the last quarter. Edgewood Management LLC acquired a new position in Axon Enterprise in the 4th quarter valued at $846,516,000. Wellington Management Group LLP raised its holdings in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock valued at $874,463,000 after acquiring an additional 1,179,038 shares in the last quarter. Norges Bank bought a new stake in shares of Axon Enterprise during the 4th quarter valued at $515,764,000. Finally, Sands Capital Management LLC lifted its position in shares of Axon Enterprise by 11.6% during the 4th quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after acquiring an additional 167,095 shares during the period. Institutional investors own 79.08% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Barclays decreased their price target on Axon Enterprise from $682.00 to $523.00 and set an "overweight" rating on the stock in a research report on Friday, May 8th. TD Cowen reduced their price objective on shares of Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a research note on Wednesday, April 8th. JPMorgan Chase & Co. raised their target price on shares of Axon Enterprise from $750.00 to $755.00 and gave the company an "overweight" rating in a report on Thursday, May 7th. Citizens Jmp restated a "market outperform" rating and issued a $700.00 target price on shares of Axon Enterprise in a research report on Thursday. Finally, The Goldman Sachs Group set a $535.00 price target on shares of Axon Enterprise in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Axon Enterprise presently has an average rating of "Moderate Buy" and an average price target of $712.75.

Key Headlines Impacting Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Citizens JMP reaffirmed its Market Outperform rating on Axon and kept a $700 price target, implying meaningful upside from current levels as adoption of AI, 911 dispatch tools, and drone technology accelerates across U.S. agencies. Benzinga article
• Positive Sentiment: Coverage around Dedrone highlighted expanding counter-drone capabilities, with the business reportedly generating more bookings than its acquisition price, reinforcing the view that Axon’s platform expansion is creating real revenue momentum. Axon stock trades up article
• Positive Sentiment: Multiple articles framed Axon as a beneficiary of rising demand for AI-powered public safety tools, including body cameras, software, dispatch, and drone-related products, which supports the long-term growth narrative for AXON. TipRanks article
• Neutral Sentiment: Axon was also noted as a trending stock on Zacks and in broader industry outlook pieces, which reflects heightened investor attention but does not by itself change fundamentals. Zacks trending stock article
• Neutral Sentiment: A report on short interest showed effectively no active short positioning, so it does not appear to be a meaningful driver of the stock right now.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $444.73 on Friday. The stock has a market cap of $35.85 billion, a P/E ratio of 178.61, a price-to-earnings-growth ratio of 8.30 and a beta of 1.45. 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 stock's 50-day moving average is $419.39 and its 200-day moving average is $482.20. Axon Enterprise, Inc has a 1-year low of $339.01 and a 1-year high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.90 million. Axon Enterprise had a net margin of 6.90% and a return on equity of 3.78%. The company's revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 EPS. Equities research analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Insider Buying and Selling

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the firm'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 trade represents a 7.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Isaiah Fields sold 2,000 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total transaction of $800,000.00. Following the transaction, the insider owned 52,813 shares of the company's stock, valued at approximately $21,125,200. The trade was a 3.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,989 shares of company stock valued at $19,090,083 over the last 90 days. 4.20% of the stock is currently owned by corporate insiders.

About Axon Enterprise

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.

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