Baillie Gifford & Co. Cuts Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Baillie Gifford & Co. lowered its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 215,924 shares of the biotechnology company's stock after selling 19,545 shares during the period. Baillie Gifford & Co. owned approximately 0.29% of Axon Enterprise worth $86,283,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in AXON. Vanguard Group Inc. raised its holdings in shares of Axon Enterprise by 2.7% in the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company's stock worth $2,547,878,000 after buying an additional 212,401 shares during the period. 1832 Asset Management L.P. increased its position in shares of Axon Enterprise by 44.0% during the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company's stock worth $110,546,000 after acquiring an additional 114,800 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Axon Enterprise by 13.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company's stock valued at $108,496,000 after acquiring an additional 45,049 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of Axon Enterprise by 1.6% in the second quarter. Thrivent Financial for Lutherans now owns 270,430 shares of the biotechnology company's stock valued at $79,571,000 after purchasing an additional 4,365 shares during the period. Finally, Federated Hermes Inc. grew its stake in Axon Enterprise by 14.5% in the second quarter. Federated Hermes Inc. now owns 234,185 shares of the biotechnology company's stock worth $68,907,000 after purchasing an additional 29,680 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Brittany Bagley sold 4,338 shares of the company's stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $378.95, for a total value of $1,643,885.10. Following the sale, the chief financial officer now owns 98,825 shares in the company, valued at $37,449,733.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Axon Enterprise news, President Joshua Isner sold 20,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $606.15, for a total value of $12,123,000.00. Following the sale, the president now owns 208,166 shares in the company, valued at approximately $126,179,820.90. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Brittany Bagley sold 4,338 shares of the firm's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $378.95, for a total transaction of $1,643,885.10. Following the sale, the chief financial officer now owns 98,825 shares in the company, valued at approximately $37,449,733.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 389,172 shares of company stock valued at $148,393,842. 6.10% of the stock is owned by company insiders.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON traded up $6.11 on Wednesday, hitting $601.29. 850,627 shares of the company were exchanged, compared to its average volume of 549,467. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The stock's 50 day moving average price is $423.98 and its 200 day moving average price is $351.79. Axon Enterprise, Inc. has a 1-year low of $220.51 and a 1-year high of $624.84. The firm has a market capitalization of $45.85 billion, a P/E ratio of 155.37, a price-to-earnings-growth ratio of 14.95 and a beta of 0.94.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of research analyst reports. Jefferies Financial Group began coverage on Axon Enterprise in a research report on Wednesday, July 17th. They set a "buy" rating and a $385.00 target price for the company. Craig Hallum upped their price objective on shares of Axon Enterprise from $370.00 to $376.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Barclays lifted their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the company an "overweight" rating in a report on Wednesday, August 7th. Robert W. Baird lifted their target price on Axon Enterprise from $440.00 to $460.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Finally, Bank of America initiated coverage on shares of Axon Enterprise in a research report on Wednesday, July 17th. They set a "buy" rating and a $380.00 price target for the company. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $427.83.

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.