Bayforest Capital Ltd Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• Bayforest Capital Ltd has invested approximately $370,000 in Axon Enterprise, acquiring 447 shares during the 2nd quarter.
• Institutional investors own over 79% of Axon Enterprise's stock, reflecting strong confidence in the company's performance and growth potential.
• Axon Enterprise reported a significant 32.6% revenue increase year-over-year, with an earnings per share of $2.12 that surpassed analyst expectations.

Bayforest Capital Ltd bought a new position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 447 shares of the biotechnology company's stock, valued at approximately $370,000.

Several other hedge funds have also recently modified their holdings of the company. TCI Wealth Advisors Inc. bought a new stake in shares of Axon Enterprise in the 2nd quarter worth approximately $214,000. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Axon Enterprise in the 1st quarter worth approximately $1,110,000. Quotient Wealth Partners LLC bought a new stake in shares of Axon Enterprise in the 1st quarter worth approximately $438,000. GAMMA Investing LLC raised its holdings in shares of Axon Enterprise by 11.8% in the 1st quarter. GAMMA Investing LLC now owns 1,454 shares of the biotechnology company's stock worth $765,000 after purchasing an additional 154 shares during the period. Finally, DAVENPORT & Co LLC raised its holdings in shares of Axon Enterprise by 5.1% in the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after purchasing an additional 46 shares during the period. Institutional investors own 79.08% of the company's stock.

Insider Activity

In other news, Director Hadi Partovi purchased 1,358 shares of Axon Enterprise stock in a transaction dated Wednesday, August 13th. The stock was purchased at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the transaction, the director directly owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This trade represents a 0.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Brittany Bagley sold 5,000 shares of the business's stock in a transaction on Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the transaction, the chief financial officer owned 93,592 shares of the company's stock, valued at $66,813,456.96. This trade represents a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,932 shares of company stock worth $45,115,616. Company insiders own 4.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AXON. Bank of America lifted their price target on shares of Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. Piper Sandler began coverage on shares of Axon Enterprise in a report on Tuesday, September 23rd. They issued an "overweight" rating and a $893.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the stock an "overweight" rating in a report on Thursday, July 17th. Raymond James Financial reaffirmed an "outperform" rating and issued a $855.00 price target (up previously from $645.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $870.00 price objective on shares of Axon Enterprise in a research note on Wednesday, September 24th. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $841.64.

Axon Enterprise Stock Down 8.5%

Axon Enterprise stock opened at $644.99 on Thursday. Axon Enterprise, Inc has a 1-year low of $422.38 and a 1-year high of $885.91. The firm has a market capitalization of $50.63 billion, a price-to-earnings ratio of 159.26, a P/E/G ratio of 27.36 and a beta of 1.41. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The firm has a 50 day simple moving average of $747.25 and a 200 day simple moving average of $715.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating analysts' consensus estimates of $1.54 by $0.58. The firm had revenue of $668.54 million during the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a net margin of 13.64% and a return on equity of 6.80%. The business's revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. On average, analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

About Axon Enterprise

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.

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