Axon Enterprise, Inc $AXON Shares Acquired by Sands Capital Management LLC

Key Points

• Sands Capital Management increased its Axon Enterprise stake by 11.6% in the fourth quarter, adding 167,095 shares and bringing its holdings to 1,609,436 shares worth about $914 million.
• Several other hedge funds also boosted or initiated positions in AXON, and institutional investors now own about 79.08% of the stock.
• Analysts remain generally upbeat, with a consensus rating of “Moderate Buy” and an average price target of $712.75, though UBS recently cut its target and kept a neutral rating.

Sands Capital Management LLC grew its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,609,436 shares of the biotechnology company's stock after purchasing an additional 167,095 shares during the period. Axon Enterprise makes up 2.8% of Sands Capital Management LLC's holdings, making the stock its 13th largest position. Sands Capital Management LLC owned approximately 2.04% of Axon Enterprise worth $914,047,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MML Investors Services LLC increased its holdings in shares of Axon Enterprise by 6.7% in the fourth quarter. MML Investors Services LLC now owns 25,645 shares of the biotechnology company's stock valued at $14,564,000 after purchasing an additional 1,605 shares during the period. Next Century Growth Investors LLC increased its holdings in shares of Axon Enterprise by 72.9% in the fourth quarter. Next Century Growth Investors LLC now owns 6,442 shares of the biotechnology company's stock valued at $3,659,000 after purchasing an additional 2,716 shares during the period. Nicolet Advisory Services LLC increased its holdings in shares of Axon Enterprise by 3.2% in the fourth quarter. Nicolet Advisory Services LLC now owns 1,637 shares of the biotechnology company's stock valued at $930,000 after purchasing an additional 50 shares during the period. Niles Investment Management LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at about $3,983,000. Finally, Fieldview Capital Management LLC acquired a new position in shares of Axon Enterprise in the fourth quarter valued at about $776,000. 79.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on AXON. Citigroup restated a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, February 25th. The Goldman Sachs Group set a $535.00 target price on Axon Enterprise in a research note on Thursday, May 7th. UBS Group lowered their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a research note on Thursday, May 7th. Craig Hallum restated a "buy" rating and issued a $820.00 target price on shares of Axon Enterprise in a research note on Wednesday, February 25th. Finally, JPMorgan Chase & Co. upped their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $712.75.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total transaction of $753,690.00. Following the transaction, the insider owned 34,024 shares in the company, valued at approximately $16,501,640. This represents a 4.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Isaiah Fields sold 2,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $400.00, for a total value of $800,000.00. Following the transaction, the insider owned 52,813 shares in the company, valued at $21,125,200. This represents a 3.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 39,344 shares of company stock valued at $19,267,315 in the last ninety days. 4.20% of the stock is currently owned by company insiders.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $441.73 on Monday. The company has a market capitalization of $35.60 billion, a P/E ratio of 177.40, a P/E/G ratio of 8.03 and a beta of 1.45. The business's 50 day moving average is $410.34 and its two-hundred day moving average is $488.94. The company has a current ratio of 2.27, a quick ratio of 1.93 and a debt-to-equity ratio of 0.49. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $885.91.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The company had revenue of $807.35 million for the quarter, compared to the consensus estimate of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise's revenue for the quarter was up 33.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.47 earnings per share. Analysts expect that Axon Enterprise, Inc will post 1.82 EPS for the current fiscal year.

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.

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