Sterling Capital Management LLC Trims Holdings in Axon Enterprise, Inc $AXON

by · The Cerbat Gem

Sterling Capital Management LLC trimmed its holdings in shares of Axon Enterprise, Inc (NASDAQ:AXON – Free Report) by 31.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,350 shares of the biotechnology company’s stock after selling 2,886 shares during the quarter. Sterling Capital Management LLC’s holdings in Axon Enterprise were worth $2,697,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AXON. Baillie Gifford & Co. increased its stake in Axon Enterprise by 1,198.7% in the 4th quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company’s stock worth $932,869,000 after buying an additional 1,516,099 shares during the period. Edgewood Management LLC purchased a new stake in Axon Enterprise in the 4th quarter valued at about $846,516,000. Wellington Management Group LLP grew its stake in Axon Enterprise by 326.9% in the 4th quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company’s stock worth $874,463,000 after acquiring an additional 1,179,038 shares in the last quarter. Norges Bank bought a new position in Axon Enterprise in the 4th quarter worth about $515,764,000. Finally, Sands Capital Management LLC increased its position in shares of Axon Enterprise by 11.6% during the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company’s stock worth $914,047,000 after acquiring an additional 167,095 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Performance

Shares of NASDAQ:AXON opened at $465.12 on Monday. The company has a market capitalization of $37.49 billion, a price-to-earnings ratio of 186.79, a price-to-earnings-growth ratio of 9.48 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. 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 firm has a 50 day moving average of $420.65 and a 200 day moving average of $481.58.

Axon Enterprise (NASDAQ:AXON – Get Free Report) last announced its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.01. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.The business had revenue of $807.35 million for the quarter, compared to analysts’ expectations of $778.90 million. During the same quarter last year, the firm earned $1.47 EPS. The business’s revenue for the quarter was up 33.7% on a year-over-year basis. On average, sell-side analysts predict that Axon Enterprise, Inc will post 1.63 earnings per share for the current fiscal year.

Insider Activity at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 13,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total transaction of $6,349,850.00. Following the completion of the sale, the president directly owned 169,125 shares of the company’s stock, valued at approximately $82,609,106.25. This represents a 7.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of Axon Enterprise stock in a transaction that occurred 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 transaction, the executive directly owned 49,710 shares in the company, valued at approximately $24,855,000. The trade was a 2.44% 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 38,989 shares of company stock valued at $19,090,083 over the last 90 days. Company insiders own 4.20% of the company’s stock.

Analyst Ratings Changes

AXON has been the subject of several research analyst reports. UBS Group decreased their price target on shares of Axon Enterprise from $570.00 to $440.00 and set a “neutral” rating for the company in a research note on Thursday, May 7th. Piper Sandler restated an “overweight” rating and set a $674.00 price objective on shares of Axon Enterprise in a report on Monday, June 15th. Morgan Stanley set a $600.00 target price on Axon Enterprise in a research report on Thursday, May 7th. Weiss Ratings upgraded Axon Enterprise from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on Axon Enterprise from $750.00 to $755.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $712.75.

Check Out Our Latest Analysis on Axon Enterprise

Axon Enterprise Profile

(Free Report)

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.

Further Reading

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