Chicago Capital LLC Trims Stock Holdings in Axon Enterprise, Inc $AXON

Key Points

• Chicago Capital LLC reduced its stake in Axon Enterprise, Inc by 17.9%, holding 18,689 shares worth $15.47 million after selling 4,076 shares.
• Institutional ownership of AXON is high, with about 79.08% of the stock owned by institutional investors and hedge funds, which have made significant purchases recently.
• Axon Enterprise reported earnings per share of $2.12 for the last quarter, exceeding consensus estimates by $0.58, with revenues up 32.6% year-over-year.

Chicago Capital LLC reduced its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 17.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,689 shares of the biotechnology company's stock after selling 4,076 shares during the period. Chicago Capital LLC's holdings in Axon Enterprise were worth $15,473,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of AXON. Jennison Associates LLC increased its stake in Axon Enterprise by 23,203.7% during the first quarter. Jennison Associates LLC now owns 614,053 shares of the biotechnology company's stock worth $322,961,000 after purchasing an additional 611,418 shares during the period. Nuveen LLC purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $264,796,000. Westfield Capital Management Co. LP increased its stake in shares of Axon Enterprise by 29.8% during the first quarter. Westfield Capital Management Co. LP now owns 927,801 shares of the biotechnology company's stock worth $487,977,000 after buying an additional 212,931 shares during the period. Vanguard Group Inc. increased its stake in shares of Axon Enterprise by 2.2% during the first quarter. Vanguard Group Inc. now owns 8,632,008 shares of the biotechnology company's stock worth $4,540,005,000 after buying an additional 185,571 shares during the period. Finally, Axiom Investors LLC DE purchased a new stake in shares of Axon Enterprise during the first quarter worth approximately $93,088,000. 79.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Jennifer H. Mak sold 77 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $760.00, for a total transaction of $58,520.00. Following the completion of the sale, the chief accounting officer directly owned 15,003 shares of the company's stock, valued at $11,402,280. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Joshua Isner sold 15,919 shares of the firm's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $746.26, for a total value of $11,879,712.94. Following the completion of the sale, the president directly owned 238,379 shares of the company's stock, valued at approximately $177,892,712.54. This trade represents a 6.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,932 shares of company stock valued at $34,408,816. 5.70% of the stock is currently owned by company insiders.

Axon Enterprise Price Performance

AXON stock opened at $716.02 on Tuesday. The company has a market capitalization of $56.21 billion, a P/E ratio of 176.80, a PEG ratio of 27.53 and a beta of 1.40. Axon Enterprise, Inc has a twelve month low of $394.24 and a twelve month high of $885.91. The business has a 50 day simple moving average of $757.89 and a 200-day simple moving average of $704.87. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 earnings per share for the quarter, beating the consensus estimate of $1.54 by $0.58. The business 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 company's revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AXON. Zacks Research lowered shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, September 2nd. Morgan Stanley set a $885.00 target price on shares of Axon Enterprise and gave the stock an "overweight" rating in a research note on Friday, July 11th. Northland Securities set a $800.00 target price on shares of Axon Enterprise in a research note on Tuesday, August 5th. Raymond James Financial restated an "outperform" rating and set a $855.00 target price (up from $645.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Finally, JPMorgan Chase & Co. increased their price target on shares of Axon Enterprise from $730.00 to $850.00 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Fourteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and an average price target of $841.64.

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.

Want to see what other hedge funds are holding AXON? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Axon Enterprise, Inc (NASDAQ:AXON - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.