Sands Capital Management LLC Grows Stock Position in Axon Enterprise, Inc $AXON

Sands Capital Management LLC grew its position in Axon Enterprise, Inc (NASDAQ:AXON) by 11.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,609,436 shares of the biotechnology company’s stock after acquiring an additional 167,095 shares during the quarter. Axon Enterprise comprises 2.8% of Sands Capital Management LLC’s holdings, making the stock its 13th largest position. Sands Capital Management LLC’s holdings in Axon Enterprise were worth $914,047,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. Brighton Jones LLC purchased a new position in shares of Axon Enterprise in the fourth quarter valued at approximately $480,000. NewEdge Advisors LLC lifted 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 in the last quarter. Empowered Funds LLC lifted 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 in the last quarter. Woodline Partners LP lifted its position in Axon Enterprise by 40.6% during the first quarter. Woodline Partners LP now owns 6,932 shares of the biotechnology company’s stock worth $3,646,000 after buying an additional 2,003 shares in the last quarter. Finally, Sivia Capital Partners LLC purchased a new position in Axon Enterprise during the second quarter worth approximately $284,000. Hedge funds and other institutional investors own 79.08% of the company’s stock.

Axon Enterprise Price Performance

AXON stock opened at $441.73 on Monday. The business has a fifty day moving average of $410.34 and a two-hundred day moving average of $488.94. The company has a quick ratio of 1.93, a current ratio of 2.27 and a debt-to-equity ratio of 0.49. The stock has a market cap of $35.60 billion, a price-to-earnings ratio of 177.40, a price-to-earnings-growth ratio of 8.03 and a beta of 1.45. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91.

Axon Enterprise (NASDAQ:AXON) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.01. The company had revenue of $807.35 million during the quarter, compared to analysts’ expectations of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The firm’s quarterly revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the firm earned $1.47 earnings per share. As a group, research analysts anticipate that Axon Enterprise, Inc will post 1.82 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Morgan Stanley set a $600.00 price objective on Axon Enterprise in a research report on Thursday, May 7th. Craig Hallum reiterated a “buy” rating and set a $820.00 price objective on shares of Axon Enterprise in a research report on Wednesday, February 25th. Piper Sandler reduced their price objective on Axon Enterprise from $690.00 to $674.00 and set an “overweight” rating on the stock in a research report on Thursday, May 7th. Needham & Company LLC reduced their price objective on Axon Enterprise from $870.00 to $600.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, UBS Group reduced their price objective on Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating on the stock in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $712.75.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CRO Cameron Brooks sold 1,242 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive owned 49,710 shares of the company’s stock, valued at $24,855,000. This trade represents a 2.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Patrick W. Smith sold 20,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the sale, the chief executive officer directly owned 3,060,997 shares of the company’s stock, valued at approximately $1,530,498,500. This trade represents a 0.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 39,344 shares of company stock valued at $19,267,315 over the last 90 days. Corporate insiders own 4.20% of the company’s stock.

Axon Enterprise Company 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.