Cyndeo Wealth Partners LLC Takes Position in Axon Enterprise, Inc $AXON

Key Points

• Cyndeo Wealth Partners LLC acquired a new stake in Axon Enterprise, purchasing 1,398 shares valued at approximately $1,157,000.
• Multiple hedge funds have increased their investments in Axon, with institutional investors now holding 79.08% of the company's stock.
• Axon Enterprise reported $668.54 million in revenue for the recent quarter, surpassing analyst estimates and showing a 32.6% year-over-year increase in revenue.

Cyndeo Wealth Partners LLC acquired a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,398 shares of the biotechnology company's stock, valued at approximately $1,157,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AXON. TCI Wealth Advisors Inc. purchased a new stake in Axon Enterprise during the second quarter worth approximately $214,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Axon Enterprise during the first quarter worth approximately $1,110,000. Quotient Wealth Partners LLC purchased a new stake in Axon Enterprise during the first quarter worth approximately $438,000. CX Institutional purchased a new stake in Axon Enterprise during the first quarter worth approximately $115,000. Finally, GAMMA Investing LLC lifted its stake in Axon Enterprise by 11.8% during the first 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 last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Raymond James Financial restated an "outperform" rating and set a $855.00 target price (up previously from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. UBS Group restated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. JMP Securities restated a "market outperform" rating and set a $825.00 target price on shares of Axon Enterprise in a research note on Monday, September 29th. Bank of America boosted their target price on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a research note on Wednesday, August 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $870.00 price target on shares of Axon Enterprise in a research report on Wednesday, September 24th. Fourteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $841.64.

Axon Enterprise Trading Down 4.2%

AXON opened at $703.03 on Friday. The firm has a market cap of $55.19 billion, a price-to-earnings ratio of 173.59, a price-to-earnings-growth ratio of 28.50 and a beta of 1.41. Axon Enterprise, Inc has a 52 week low of $422.38 and a 52 week high of $885.91. The business's 50 day moving average is $755.57 and its two-hundred day moving average is $712.63. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63.

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, topping the consensus estimate of $1.54 by $0.58. The company had revenue of $668.54 million for the quarter, compared to analyst estimates of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The firm's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brittany Bagley sold 5,000 shares of the business's stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of $713.88, for a total value of $3,569,400.00. Following the transaction, the chief financial officer owned 93,592 shares of the company's stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hadi Partovi bought 1,358 shares of the company's stock in a transaction dated Wednesday, August 13th. The stock was bought at an average cost of $740.00 per share, for a total transaction of $1,004,920.00. Following the acquisition, the director owned 237,938 shares of the company's stock, valued at approximately $176,074,120. This trade represents a 0.57% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 59,932 shares of company stock valued at $45,115,616. 4.40% of the stock is owned by company insiders.

Axon Enterprise Company Profile

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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