abrdn plc Trims Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

abrdn plc decreased its holdings in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 389,897 shares of the biotechnology company's stock after selling 10,256 shares during the period. abrdn plc owned 0.52% of Axon Enterprise worth $100,722,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AXON. Capital International Investors boosted its stake in shares of Axon Enterprise by 605.2% in the first quarter. Capital International Investors now owns 2,660,634 shares of the biotechnology company's stock worth $366,449,000 after acquiring an additional 2,283,343 shares during the period. Sands Capital Management LLC boosted its stake in Axon Enterprise by 101.6% during the second quarter. Sands Capital Management LLC now owns 1,993,126 shares of the biotechnology company's stock valued at $388,899,000 after buying an additional 1,004,556 shares during the last quarter. BlackRock Inc. boosted its stake in Axon Enterprise by 11.7% during the first quarter. BlackRock Inc. now owns 8,329,479 shares of the biotechnology company's stock valued at $1,872,883,000 after buying an additional 870,481 shares during the last quarter. Norges Bank bought a new position in Axon Enterprise during the fourth quarter valued at approximately $102,920,000. Finally, Westfield Capital Management Co. LP boosted its stake in Axon Enterprise by 184.3% during the third quarter. Westfield Capital Management Co. LP now owns 696,193 shares of the biotechnology company's stock valued at $138,535,000 after buying an additional 451,350 shares during the last quarter. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Trading Down 1.3 %

Shares of NASDAQ AXON traded down $3.98 during midday trading on Friday, hitting $293.61. The company's stock had a trading volume of 551,405 shares, compared to its average volume of 404,298. The company has a current ratio of 3.00, a quick ratio of 2.66 and a debt-to-equity ratio of 0.42. The business's 50 day moving average is $300.87 and its two-hundred day moving average is $258.89. Axon Enterprise, Inc. has a 12-month low of $175.37 and a 12-month high of $329.87. The firm has a market cap of $22.16 billion, a P/E ratio of 127.65 and a beta of 0.93.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The biotechnology company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.29. Axon Enterprise had a return on equity of 14.11% and a net margin of 11.14%. The firm had revenue of $432.14 million for the quarter, compared to the consensus estimate of $418.97 million. As a group, equities research analysts expect that Axon Enterprise, Inc. will post 2.44 EPS for the current year.

Wall Street Analyst Weigh In

AXON has been the subject of a number of research reports. Argus initiated coverage on Axon Enterprise in a research note on Wednesday, March 13th. They set a "buy" rating and a $380.00 price target for the company. StockNews.com lowered Axon Enterprise from a "buy" rating to a "hold" rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. increased their price target on Axon Enterprise from $330.00 to $365.00 and gave the company an "overweight" rating in a research note on Thursday, April 11th. Morgan Stanley increased their price target on Axon Enterprise from $250.00 to $285.00 and gave the company an "equal weight" rating in a research note on Wednesday, February 28th. Finally, Robert W. Baird raised their price objective on Axon Enterprise from $260.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $312.64.

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.