Sands Capital Management LLC Has $1.04 Billion Stock Position in Axon Enterprise, Inc $AXON

Sands Capital Management LLC cut its holdings in Axon Enterprise, Inc (NASDAQ:AXON) by 10.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,442,341 shares of the biotechnology company’s stock after selling 168,954 shares during the period. Axon Enterprise makes up 2.9% of Sands Capital Management LLC’s investment portfolio, making the stock its 12th biggest holding. Sands Capital Management LLC owned 1.83% of Axon Enterprise worth $1,035,082,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AXON. Newbridge Financial Services Group Inc. boosted its stake in shares of Axon Enterprise by 2.8% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 508 shares of the biotechnology company’s stock worth $421,000 after acquiring an additional 14 shares in the last quarter. Vicus Capital raised its stake in shares of Axon Enterprise by 3.7% in the 3rd quarter. Vicus Capital now owns 396 shares of the biotechnology company’s stock valued at $284,000 after acquiring an additional 14 shares in the last quarter. Evergreen Capital Management LLC raised its stake in shares of Axon Enterprise by 3.8% in the 2nd quarter. Evergreen Capital Management LLC now owns 413 shares of the biotechnology company’s stock valued at $342,000 after acquiring an additional 15 shares in the last quarter. STF Management LP lifted its holdings in Axon Enterprise by 1.4% in the 2nd quarter. STF Management LP now owns 1,164 shares of the biotechnology company’s stock worth $964,000 after purchasing an additional 16 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Axon Enterprise by 2.5% in the 3rd quarter. Blue Trust Inc. now owns 645 shares of the biotechnology company’s stock worth $463,000 after purchasing an additional 16 shares during the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on AXON shares. Craig Hallum reiterated a “buy” rating and set a $820.00 price target on shares of Axon Enterprise in a report on Wednesday, February 25th. William Blair restated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. Royal Bank Of Canada decreased their price objective on shares of Axon Enterprise from $860.00 to $735.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Barclays lowered their target price on shares of Axon Enterprise from $702.00 to $682.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. Finally, Citigroup reiterated a “buy” rating on shares of Axon Enterprise in a report on Wednesday, February 25th. Sixteen analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Axon Enterprise has an average rating of “Moderate Buy” and a consensus price target of $762.93.

Axon Enterprise Trading Down 5.2%

Shares of AXON stock opened at $529.97 on Wednesday. Axon Enterprise, Inc has a 1 year low of $396.41 and a 1 year high of $885.91. The firm’s fifty day simple moving average is $534.81 and its 200 day simple moving average is $613.75. The firm has a market capitalization of $42.61 billion, a P/E ratio of 348.67, a price-to-earnings-growth ratio of 11.93 and a beta of 1.46. The company has a current ratio of 2.53, a quick ratio of 2.29 and a debt-to-equity ratio of 0.53.

Axon Enterprise (NASDAQ:AXON) last issued its quarterly earnings results on Tuesday, February 24th. The biotechnology company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.55. The firm had revenue of $796.72 million during the quarter, compared to the consensus estimate of $755.29 million. Axon Enterprise had a net margin of 4.48% and a return on equity of 2.82%. The business’s revenue was up 38.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 EPS. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Activity at Axon Enterprise

In related news, insider Isaiah Fields sold 2,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $535.01, for a total transaction of $1,070,020.00. Following the transaction, the insider directly owned 55,588 shares in the company, valued at $29,740,135.88. The trade was a 3.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Brittany Bagley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $580.00, for a total value of $1,160,000.00. Following the completion of the transaction, the chief financial officer directly owned 103,501 shares of the company’s stock, valued at approximately $60,030,580. This trade represents a 1.90% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 26,634 shares of company stock worth $14,963,095 over the last ninety days. Corporate insiders own 5.70% of the company’s stock.

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.