FORA Capital LLC Has $1.86 Million Position in Axon Enterprise, Inc $AXON

Key Points

• FORA Capital LLC significantly reduced its stake in Axon Enterprise, Inc by 77.9%, holding 3,539 shares worth approximately $1.86 million after selling 12,475 shares in the 1st quarter.
• Vanguard Group, Westfield Capital Management, and Jennison Associates all increased their positions in Axon Enterprise, highlighting strong institutional interest with 79.08% of the stock now owned by institutional investors.
• In the latest quarterly earnings, Axon Enterprise reported an EPS of $2.12, surpassing analysts' expectations, and showed a revenue increase of 32.6% year-over-year.

FORA Capital LLC lessened its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 77.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,539 shares of the biotechnology company's stock after selling 12,475 shares during the quarter. FORA Capital LLC's holdings in Axon Enterprise were worth $1,861,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in AXON. Brighton Jones LLC acquired a new position in shares of Axon Enterprise during the fourth quarter valued at $480,000. Kovitz Investment Group Partners LLC lifted its stake in Axon Enterprise by 31.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 1,081 shares of the biotechnology company's stock valued at $642,000 after buying an additional 260 shares during the period. Quarry LP acquired a new position in Axon Enterprise in the fourth quarter valued at about $149,000. Beacon Pointe Advisors LLC lifted its stake in Axon Enterprise by 2.6% in the fourth quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company's stock valued at $513,000 after buying an additional 22 shares during the period. Finally, Northern Trust Corp lifted its stake in Axon Enterprise by 19.8% in the fourth quarter. Northern Trust Corp now owns 716,926 shares of the biotechnology company's stock valued at $426,083,000 after buying an additional 118,469 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Down 4.4%

Shares of NASDAQ:AXON traded down $34.61 during mid-day trading on Friday, reaching $747.29. 583,191 shares of the stock were exchanged, compared to its average volume of 704,552. The stock's 50 day simple moving average is $772.14 and its 200-day simple moving average is $677.21. Axon Enterprise, Inc has a one year low of $346.71 and a one year high of $885.91. The company has a quick ratio of 2.71, a current ratio of 2.95 and a debt-to-equity ratio of 0.63. The company has a market cap of $58.67 billion, a P/E ratio of 184.52, a P/E/G ratio of 27.43 and a beta of 1.36.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The biotechnology company reported $2.12 earnings per share 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 the consensus estimate of $641.77 million. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The business's revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities research analysts predict that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 7,891 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $750.10, for a total value of $5,919,039.10. Following the completion of the transaction, the insider directly owned 144,538 shares in the company, valued at $108,417,953.80. This trade represents a 5.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Patrick W. Smith sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $831.29, for a total value of $8,312,900.00. Following the completion of the transaction, the chief executive officer owned 3,053,982 shares of the company's stock, valued at approximately $2,538,744,696.78. This represents a 0.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,790 shares of company stock valued at $31,432,171. 4.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

AXON has been the topic of several analyst reports. Wolfe Research initiated coverage on Axon Enterprise in a research note on Monday, July 7th. They issued an "outperform" rating on the stock. JPMorgan Chase & Co. increased their target price on Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. JMP Securities increased their target price on Axon Enterprise from $725.00 to $825.00 and gave the company a "market outperform" rating in a research note on Tuesday, July 22nd. Barclays increased their target price on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Morgan Stanley set a $885.00 target price on Axon Enterprise and gave the company an "overweight" rating in a research note on Friday, July 11th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $837.69.

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.