Cwm LLC Raises Holdings in Axon Enterprise, Inc $AXON

Key Points

• Cwm LLC increased its stake in Axon Enterprise by 8.2%, owning 5,099 shares valued at approximately $4.22 million as of the latest SEC filing.
• Institutional investors now hold about 79.08% of Axon Enterprise's stock, with several hedge funds making significant increases in their positions during the recent quarter.
• Axon Enterprise reported a 32.6% increase in revenue year-over-year for its most recent quarter, beating earnings estimates with an EPS of $2.12.

Cwm LLC grew its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,099 shares of the biotechnology company's stock after purchasing an additional 386 shares during the quarter. Cwm LLC's holdings in Axon Enterprise were worth $4,221,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings 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 purchasing an additional 185,571 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Axon Enterprise by 15.9% during the first quarter. Alliancebernstein L.P. now owns 1,284,935 shares of the biotechnology company's stock worth $675,812,000 after purchasing an additional 175,890 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings 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 purchasing an additional 212,931 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Axon Enterprise by 1.2% during the first quarter. Northern Trust Corp now owns 725,720 shares of the biotechnology company's stock worth $381,692,000 after purchasing an additional 8,794 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in shares of 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 last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 15,919 shares of the firm'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 sale, the president owned 238,379 shares in the company, valued at $177,892,712.54. This trade represents a 6.26% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Brittany Bagley sold 5,000 shares of Axon Enterprise stock in a transaction that occurred on Monday, September 29th. The shares were sold at an average price of $713.88, for a total transaction of $3,569,400.00. Following the sale, the chief financial officer owned 93,592 shares of the company's stock, valued at approximately $66,813,456.96. The trade was a 5.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,932 shares of company stock valued at $45,115,616 over the last 90 days. Insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON opened at $652.17 on Friday. 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 $51.20 billion, a P/E ratio of 161.03, a PEG ratio of 25.05 and a beta of 1.41. Axon Enterprise, Inc has a 52 week low of $422.38 and a 52 week high of $885.91. The company has a 50-day moving average price of $742.88 and a 200 day moving average price of $716.37.

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 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 net margin of 13.64% and a return on equity of 6.80%. The firm's revenue was up 32.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.20 earnings per share. Axon Enterprise has set its FY 2025 guidance at EPS. Research analysts predict that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on AXON. Bank of America raised their price objective on Axon Enterprise from $895.00 to $1,000.00 and gave the stock a "buy" rating in a report on Wednesday, August 6th. UBS Group reiterated a "neutral" rating and set a $840.00 target price (up previously from $820.00) on shares of Axon Enterprise in a research note on Tuesday, August 5th. Zacks Research downgraded 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. Finally, Needham & Company LLC reiterated a "buy" rating and set a $870.00 target price on shares of Axon Enterprise in a research note on Wednesday, September 24th. Fourteen investment 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, Axon Enterprise currently has a consensus rating of "Moderate Buy" and an average price target of $841.64.

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.

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