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

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vestor Capital LLC raised its stake in shares of Axon Enterprise by 438,636.3% in the 2nd quarter. Vestor Capital LLC now owns 833,599 shares of the biotechnology company’s stock valued at $690,170,000 after buying an additional 833,409 shares in the last quarter. Norges Bank acquired a new stake in shares of Axon Enterprise during the 2nd quarter valued at about $637,806,000. Vanguard Group Inc. boosted its position in shares of Axon Enterprise by 4.2% during the 3rd quarter. Vanguard Group Inc. now owns 9,314,164 shares of the biotechnology company’s stock valued at $6,684,217,000 after acquiring an additional 376,904 shares in the last quarter. Jennison Associates LLC increased its stake in Axon Enterprise by 53.8% in the third quarter. Jennison Associates LLC now owns 943,944 shares of the biotechnology company’s stock valued at $677,412,000 after acquiring an additional 330,213 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Axon Enterprise by 129.2% in the second quarter. 1832 Asset Management L.P. now owns 536,420 shares of the biotechnology company’s stock valued at $444,124,000 after acquiring an additional 302,420 shares during the period. Institutional investors own 79.08% of the company’s stock.

Analyst Upgrades and Downgrades

AXON has been the subject of a number of analyst reports. Morgan Stanley cut their price target on shares of Axon Enterprise from $713.00 to $675.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. William Blair reiterated an “outperform” rating on shares of Axon Enterprise in a research note on Tuesday, February 3rd. UBS Group dropped their target price on Axon Enterprise from $610.00 to $570.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $820.00 price target on shares of Axon Enterprise in a research note on Wednesday, February 25th. Sixteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $762.93.

Axon Enterprise Trading Down 5.2%

Shares of AXON opened at $529.97 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.29 and a current ratio of 2.53. The company has a market cap of $42.61 billion, a price-to-earnings ratio of 348.67, a PEG ratio of 11.93 and a beta of 1.46. The stock has a fifty day moving average price of $534.81 and a two-hundred day moving average price of $613.75. Axon Enterprise, Inc has a 52-week low of $396.41 and a 52-week high of $885.91.

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

Insider Activity at Axon Enterprise

In other Axon Enterprise news, CAO Jennifer H. Mak sold 1,500 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $573.45, for a total value of $860,175.00. Following the completion of the transaction, the chief accounting officer directly owned 12,240 shares of the company’s stock, valued at approximately $7,019,028. The trade was a 10.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brittany Bagley sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $580.00, for a total transaction of $1,160,000.00. Following the transaction, the chief financial officer owned 103,501 shares in the company, valued at $60,030,580. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,634 shares of company stock worth $14,963,095 in the last 90 days. Corporate insiders own 5.70% of the company’s stock.

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.