Sands Capital Management LLC Sells 288,527 Shares of Axon Enterprise, Inc $AXON

Sands Capital Management LLC reduced its position in shares of Axon Enterprise, Inc (NASDAQ:AXON) by 15.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,611,295 shares of the biotechnology company’s stock after selling 288,527 shares during the period. Axon Enterprise comprises approximately 3.8% of Sands Capital Management LLC’s portfolio, making the stock its 9th largest position. Sands Capital Management LLC owned approximately 2.05% of Axon Enterprise worth $1,334,056,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Pinkerton Wealth LLC acquired a new position in shares of Axon Enterprise in the 2nd quarter valued at $2,945,000. Taikang Asset Management Hong Kong Co Ltd increased its stake in Axon Enterprise by 45.1% in the 2nd quarter. Taikang Asset Management Hong Kong Co Ltd now owns 4,146 shares of the biotechnology company’s stock valued at $3,433,000 after purchasing an additional 1,288 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Axon Enterprise during the 2nd quarter worth approximately $3,467,000. M&T Bank Corp grew its holdings in shares of Axon Enterprise by 7.4% during the second quarter. M&T Bank Corp now owns 6,023 shares of the biotechnology company’s stock worth $4,987,000 after buying an additional 417 shares in the last quarter. Finally, Willis Johnson & Associates Inc. acquired a new stake in Axon Enterprise in the 2nd quarter worth about $317,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Wall Street Zen lowered Axon Enterprise from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. JMP Securities reaffirmed a “market outperform” rating and set a $825.00 price target on shares of Axon Enterprise in a research report on Monday, September 29th. Royal Bank Of Canada began coverage on shares of Axon Enterprise in a research note on Monday, November 17th. They set an “outperform” rating and a $860.00 target price for the company. UBS Group reduced their price objective on Axon Enterprise from $840.00 to $610.00 and set a “neutral” rating for the company in a research report on Wednesday, November 5th. Finally, Piper Sandler decreased their target price on shares of Axon Enterprise from $893.00 to $753.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of “Moderate Buy” and a consensus target price of $814.00.

Axon Enterprise Price Performance

Shares of AXON opened at $537.75 on Wednesday. The firm has a market cap of $42.43 billion, a PE ratio of 170.17, a PEG ratio of 122.46 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $469.24 and a twelve month high of $885.91. The firm’s 50 day moving average price is $648.77 and its 200 day moving average price is $724.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.89 and a current ratio of 3.12.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing the consensus estimate of $1.63 by ($0.46). The company had revenue of $710.64 million for the quarter, compared to the consensus estimate of $704.83 million. Axon Enterprise had a net margin of 10.05% and a return on equity of 4.29%. Axon Enterprise’s quarterly revenue was up 30.6% on a year-over-year basis. During the same quarter last year, the business earned $1.45 earnings per share. As a group, research analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Brittany Bagley sold 2,500 shares of the company’s stock in a transaction on Monday, November 10th. The stock was sold at an average price of $610.00, for a total value of $1,525,000.00. Following the completion of the transaction, the chief financial officer directly owned 91,092 shares in the company, valued at approximately $55,566,120. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Jennifer H. Mak sold 77 shares of Axon Enterprise stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $760.00, for a total transaction of $58,520.00. Following the sale, the chief accounting officer owned 15,003 shares in the company, valued at approximately $11,402,280. This trade represents a 0.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,547 shares of company stock valued at $26,385,102 in the last quarter. Company insiders own 5.70% of the company’s stock.

Axon Enterprise 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.