Chevy Chase Trust Holdings LLC Buys 1,125 Shares of Axon Enterprise, Inc $AXON

Key Points

• Chevy Chase Trust Holdings LLC increased its stake in Axon Enterprise, Inc by 3.0% after acquiring an additional 1,125 shares, bringing their total ownership to approximately 39,119 shares valued at $32,388,000.
• Axon Enterprise's stock price rose 2.8% to $670.68 amid a strong quarterly earnings report that showed a 32.6% year-over-year revenue increase, beating estimates with $668.54 million in revenue.
• An overall 79.08% of Axon Enterprise's stock is held by institutional investors, highlighting strong institutional interest in the company.

Chevy Chase Trust Holdings LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 3.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,119 shares of the biotechnology company's stock after purchasing an additional 1,125 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.05% of Axon Enterprise worth $32,388,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the company. Stratos Wealth Partners LTD. grew its stake in shares of Axon Enterprise by 3.6% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 6,798 shares of the biotechnology company's stock valued at $5,629,000 after purchasing an additional 236 shares during the period. Stratos Wealth Advisors LLC grew its stake in shares of Axon Enterprise by 12.1% during the 2nd quarter. Stratos Wealth Advisors LLC now owns 706 shares of the biotechnology company's stock valued at $585,000 after purchasing an additional 76 shares during the period. Angeles Wealth Management LLC bought a new position in Axon Enterprise in the second quarter worth approximately $305,000. Praxis Investment Management Inc. raised its position in Axon Enterprise by 17.8% in the second quarter. Praxis Investment Management Inc. now owns 3,180 shares of the biotechnology company's stock worth $2,633,000 after acquiring an additional 480 shares during the period. Finally, S Bank Fund Management Ltd raised its position in Axon Enterprise by 290.5% in the second quarter. S Bank Fund Management Ltd now owns 3,522 shares of the biotechnology company's stock worth $2,916,000 after acquiring an additional 2,620 shares during the period. 79.08% of the stock is currently owned by institutional investors.

Axon Enterprise Stock Up 2.8%

Shares of AXON stock opened at $670.68 on Friday. The company has a market capitalization of $52.65 billion, a price-to-earnings ratio of 165.60, a PEG ratio of 25.33 and a beta of 1.41. Axon Enterprise, Inc has a one year low of $422.38 and a one year high of $885.91. The company's fifty day moving average price is $739.44 and its 200-day moving average price is $717.26. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.95 and a quick ratio of 2.71.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, beating the consensus estimate of $1.54 by $0.58. The firm had revenue of $668.54 million for 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 company's revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm earned $1.20 EPS. Axon Enterprise has set its FY 2025 guidance at EPS. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on AXON shares. Wolfe Research started coverage on shares of Axon Enterprise in a research report on Monday, July 7th. They issued an "outperform" rating on the stock. Morgan Stanley set a $885.00 price target on shares of Axon Enterprise and gave the stock an "overweight" rating in a research report on Friday, July 11th. Craig Hallum upgraded shares of Axon Enterprise from a "hold" rating to a "buy" rating and set a $900.00 price target on the stock in a research report on Tuesday, August 5th. UBS Group reiterated a "neutral" rating and issued a $840.00 price target (up from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Finally, Zacks Research downgraded shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Fourteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $841.64.

Insider Buying and Selling

In other Axon Enterprise news, Director Jeri Williams sold 100 shares of Axon Enterprise stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $752.54, for a total value of $75,254.00. Following the sale, the director directly owned 1,416 shares in the company, valued at approximately $1,065,596.64. The trade was a 6.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Joshua Isner sold 15,919 shares of Axon Enterprise stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total transaction of $11,879,712.94. Following the completion of the sale, the president owned 238,379 shares in the company, valued at approximately $177,892,712.54. This represents a 6.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,932 shares of company stock worth $45,115,616 in the last 90 days. 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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