Chung Wu Investment Group LLC Makes New Investment in Axon Enterprise, Inc $AXON

Key Points

• Chung Wu Investment Group LLC recently acquired a new stake in Axon Enterprise, purchasing 430 shares valued at approximately $356,000.
• Several institutional investors have increased their holdings in Axon Enterprise, with 79.08% of the company's stock now owned by institutional and hedge fund investors.
• Recent insider sales indicate decreasing holdings among executives, with notable transactions amounting to over $17 million in total sales during August.

Chung Wu Investment Group LLC bought a new stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 430 shares of the biotechnology company's stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new position in Axon Enterprise during the fourth quarter worth $480,000. Wedmont Private Capital raised its stake in shares of Axon Enterprise by 22.8% during the 1st quarter. Wedmont Private Capital now owns 825 shares of the biotechnology company's stock worth $469,000 after buying an additional 153 shares during the last quarter. Whitaker Myers Wealth Managers LTD. boosted its position in shares of Axon Enterprise by 167.6% in the 1st quarter. Whitaker Myers Wealth Managers LTD. now owns 1,041 shares of the biotechnology company's stock worth $548,000 after buying an additional 652 shares in the last quarter. Yarbrough Capital LLC grew its stake in Axon Enterprise by 100.0% in the 1st quarter. Yarbrough Capital LLC now owns 836 shares of the biotechnology company's stock valued at $440,000 after acquiring an additional 418 shares during the last quarter. Finally, Capital Investment Advisors LLC grew its stake in Axon Enterprise by 86.5% in the 1st quarter. Capital Investment Advisors LLC now owns 1,285 shares of the biotechnology company's stock valued at $676,000 after acquiring an additional 596 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Insider Buying and Selling at Axon Enterprise

In other Axon Enterprise news, President Joshua Isner sold 15,919 shares of the company's stock in a transaction dated 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 transaction, the president directly owned 238,379 shares of the company's stock, valued at $177,892,712.54. This represents a 6.26% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Jeffrey C. Kunins sold 7,891 shares of Axon Enterprise stock in a transaction dated 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 sale, the insider directly owned 144,538 shares in the company, valued at approximately $108,417,953.80. The trade was a 5.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 49,932 shares of company stock valued at $37,978,216. 5.70% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on AXON shares. 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 report on Tuesday, August 5th. JPMorgan Chase & Co. upped 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. UBS Group reissued a "neutral" rating and set a $840.00 price target (up previously from $820.00) on shares of Axon Enterprise in a research report on Tuesday, August 5th. Zacks Research downgraded Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 2nd. Finally, Wolfe Research started coverage on Axon Enterprise in a research report on Monday, July 7th. They set an "outperform" rating for the company. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $841.64.

Axon Enterprise Stock Down 0.7%

Shares of NASDAQ AXON opened at $715.51 on Monday. Axon Enterprise, Inc has a 12-month low of $413.68 and a 12-month high of $885.91. The company has a market cap of $56.17 billion, a P/E ratio of 176.67, a P/E/G ratio of 27.79 and a beta of 1.41. The company has a current ratio of 2.95, a quick ratio of 2.71 and a debt-to-equity ratio of 0.63. The stock has a fifty day moving average price of $757.79 and a 200 day moving average price of $709.38.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The biotechnology company reported $2.12 EPS for the quarter, topping analysts' consensus estimates of $1.54 by $0.58. Axon Enterprise had a return on equity of 6.80% and a net margin of 13.64%.The company had revenue of $668.54 million for the quarter, compared to analysts' expectations of $641.77 million. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The firm's quarterly revenue was up 32.6% on a year-over-year basis. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts anticipate that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal 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.

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.