Stony Point Capital LLC Invests $29.42 Million in Axon Enterprise, Inc $AXON

Key Points

• Stony Point Capital LLC invested $29.42 million in Axon Enterprise, purchasing 55,940 shares and making it the firm's 13th largest position.
• Axon Enterprise reported $2.12 earnings per share for the most recent quarter, exceeding estimates by $0.58, with a revenue of $668.54 million up 32.6% year-over-year.
• Thirteen analysts have rated Axon Enterprise as a buy, with a consensus price target of $837.69, indicating strong growth potential.

Stony Point Capital LLC bought a new position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 55,940 shares of the biotechnology company's stock, valued at approximately $29,422,000. Axon Enterprise makes up 3.0% of Stony Point Capital LLC's portfolio, making the stock its 13th biggest holding. Stony Point Capital LLC owned approximately 0.07% of Axon Enterprise at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Brighton Jones LLC acquired a new position in Axon Enterprise during the 4th quarter worth $480,000. Kovitz Investment Group Partners LLC lifted its holdings in Axon Enterprise by 31.7% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 1,081 shares of the biotechnology company's stock worth $642,000 after buying an additional 260 shares in the last quarter. Beacon Pointe Advisors LLC lifted its holdings in Axon Enterprise by 2.6% during the 4th quarter. Beacon Pointe Advisors LLC now owns 864 shares of the biotechnology company's stock worth $513,000 after buying an additional 22 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Axon Enterprise by 382.2% during the 4th quarter. AQR Capital Management LLC now owns 23,363 shares of the biotechnology company's stock worth $13,885,000 after buying an additional 18,518 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC lifted its holdings in Axon Enterprise by 493.0% during the 4th quarter. Schonfeld Strategic Advisors LLC now owns 11,000 shares of the biotechnology company's stock worth $6,538,000 after buying an additional 9,145 shares in the last quarter. 79.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Axon Enterprise news, Director Hadi Partovi bought 1,358 shares of the stock in a transaction dated Wednesday, August 13th. The shares were bought at an average cost of $740.00 per share, with a total value of $1,004,920.00. Following the completion of the acquisition, the director owned 237,938 shares of the company's stock, valued at $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 accessible through this link. Also, CAO Jennifer H. Mak sold 75 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $771.81, for a total transaction of $57,885.75. Following the transaction, the chief accounting officer directly owned 15,240 shares in the company, valued at $11,762,384.40. This represents a 0.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,703 shares of company stock valued at $31,366,051. Company insiders own 5.70% of the company's stock.

Analyst Ratings Changes

Several research analysts have issued reports on the company. UBS Group reaffirmed a "neutral" rating and set a $840.00 price objective (up previously from $820.00) on shares of Axon Enterprise in a report on Tuesday, August 5th. JMP Securities increased their price target 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. The Goldman Sachs Group increased their price target on Axon Enterprise from $730.00 to $830.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Craig Hallum raised Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research note on Tuesday, August 5th. Finally, Barclays increased their price target on Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Thirteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $837.69.

Axon Enterprise Stock Performance

NASDAQ:AXON traded down $3.70 during mid-day trading on Tuesday, hitting $743.59. The stock had a trading volume of 493,294 shares, compared to its average volume of 696,763. Axon Enterprise, Inc has a twelve month low of $346.71 and a twelve month high of $885.91. The stock has a market cap of $58.37 billion, a price-to-earnings ratio of 183.60, a PEG ratio of 27.43 and a beta of 1.40. The company's 50 day simple moving average is $771.42 and its 200 day simple moving average is $677.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 2.71 and a current ratio of 2.95.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 13.64% and a return on equity of 6.80%. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same period last year, the business posted $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. On average, equities research analysts forecast 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.