Franklin Resources Inc. lowered its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 86.8% in the fourth quarter, Holdings Channel reports. The firm owned 1,127,933 shares of the biotechnology company’s stock after selling 7,409,236 shares during the period. Franklin Resources Inc.’s holdings in Axon Enterprise were worth $640,587,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new stake in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. NewEdge Advisors LLC boosted its position in shares of Axon Enterprise by 41.1% in the first quarter. NewEdge Advisors LLC now owns 2,294 shares of the biotechnology company’s stock valued at $1,207,000 after acquiring an additional 668 shares during the period. Empowered Funds LLC boosted its position in shares of Axon Enterprise by 8.4% in the first quarter. Empowered Funds LLC now owns 2,028 shares of the biotechnology company’s stock valued at $1,067,000 after acquiring an additional 157 shares during the period. Woodline Partners LP boosted its position in shares of Axon Enterprise by 40.6% in the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock valued at $3,646,000 after acquiring an additional 2,003 shares during the period. Finally, Sivia Capital Partners LLC bought a new stake in shares of Axon Enterprise in the second quarter valued at approximately $284,000. Institutional investors own 79.08% of the company’s stock.
Axon Enterprise Stock Down 3.1%
Shares of AXON stock opened at $471.06 on Tuesday. The stock has a market cap of $37.97 billion, a P/E ratio of 189.18, a price-to-earnings-growth ratio of 8.84 and a beta of 1.45. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $885.91. The stock has a fifty day moving average price of $408.45 and a 200 day moving average price of $491.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 2.27 and a quick ratio of 1.93.
Insider Activity
In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the stock in a transaction on Friday, June 5th. The stock was 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 directly owned 169,125 shares in the company, valued at $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Cameron Brooks sold 1,242 shares of the stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $621,000.00. Following the transaction, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This represents a 2.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 39,344 shares of company stock valued at $19,267,315. 4.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Zacks Research raised Axon Enterprise from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. TD Cowen reduced their price objective on Axon Enterprise from $950.00 to $825.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Citizens Jmp reduced their price objective on Axon Enterprise from $825.00 to $700.00 and set a “market outperform” rating for the company in a research report on Thursday, May 7th. Finally, Needham & Company LLC reduced their target price on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating for the company in a research report on Friday, February 20th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $712.75.
Get Our Latest Research Report on Axon Enterprise
Axon Enterprise Profile
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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