Axon Enterprise, Inc $AXON Holdings Decreased by Truist Financial Corp

Key Points

• Truist Financial Corp cut its Axon Enterprise stake by 20.9% in the fourth quarter, selling 2,764 shares and leaving it with 10,455 shares worth about $5.94 million.
• Axon’s latest earnings were strong, with Q1 revenue rising 33.7% year over year to about $807 million and EPS of $1.61 edging past estimates.
• Despite the upbeat results, some analysts trimmed price targets, and the stock trades at a rich valuation with a P/E ratio above 160 and shares well below the 52-week high.

Truist Financial Corp reduced its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 20.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,455 shares of the biotechnology company's stock after selling 2,764 shares during the quarter. Truist Financial Corp's holdings in Axon Enterprise were worth $5,938,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of AXON. Stone House Investment Management LLC bought a new stake in shares of Axon Enterprise during the third quarter valued at about $29,000. New Millennium Group LLC bought a new stake in shares of Axon Enterprise during the third quarter valued at about $29,000. Sound Income Strategies LLC raised its stake in shares of Axon Enterprise by 550.0% during the fourth quarter. Sound Income Strategies LLC now owns 52 shares of the biotechnology company's stock valued at $30,000 after purchasing an additional 44 shares in the last quarter. Camelot Portfolios LLC bought a new stake in shares of Axon Enterprise during the fourth quarter valued at about $30,000. Finally, Root Financial Partners LLC bought a new stake in shares of Axon Enterprise during the third quarter valued at about $34,000. 79.08% of the stock is currently owned by institutional investors.

Trending Headlines about Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon reported Q1 revenue of about $807 million, up 33.7% year over year, with EPS of $1.61 topping consensus by a penny and management lifting its 2026 revenue growth outlook to 30%-32% while targeting roughly $450 million in free cash flow. Axon Raises Guidance With AI Revenue Up 700%
• Positive Sentiment: Analysts largely remained constructive, with multiple firms reiterating bullish ratings and new/raised price targets, citing strong ARR growth, AI-driven demand, and durable growth prospects. Axon Earns Buy Rating on Robust ARR Growth, AI-Driven Demand, and Underappreciated Profitability
• Positive Sentiment: Baltimore approved a $153 million police-equipment contract, highlighting continued public-safety spending that could benefit Axon’s body cameras, Tasers, and related software ecosystem. Baltimore police to get upgraded body-worn cameras, Tasers after city approves $153 million contract
• Neutral Sentiment: Some coverage noted that Q1 earnings slightly missed estimates and tariff-related margin pressure offset part of the strong revenue growth, creating a mixed read on near-term profitability. AXON Q1 Earnings Miss Estimates on Tariff-Driven Margins
• Negative Sentiment: The stock also faced some valuation pressure from mixed analyst target moves, including at least one notable cut even as ratings stayed positive. Axon Enterprise price target lowered by Citizens JMP

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. UBS Group lowered their target price on Axon Enterprise from $570.00 to $440.00 and set a "neutral" rating on the stock in a report on Thursday. Piper Sandler lowered their target price on Axon Enterprise from $690.00 to $674.00 and set an "overweight" rating on the stock in a report on Thursday. Citizens Jmp lowered their target price on Axon Enterprise from $825.00 to $700.00 and set a "market outperform" rating on the stock in a report on Thursday. TD Cowen lowered their target price on Axon Enterprise from $950.00 to $825.00 and set a "buy" rating on the stock in a report on Wednesday, April 8th. Finally, William Blair reaffirmed an "outperform" rating on shares of Axon Enterprise in a report on Tuesday, February 3rd. Sixteen equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $712.75.

Insider Transactions at Axon Enterprise

In related news, CAO Jennifer H. Mak sold 1,500 shares of Axon Enterprise stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $573.45, for a total value of $860,175.00. Following the transaction, the chief accounting officer owned 12,240 shares of the company's stock, valued at approximately $7,019,028. This trade represents a 10.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Jeri Williams sold 157 shares of Axon Enterprise stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $490.00, for a total value of $76,930.00. Following the completion of the transaction, the director directly owned 1,159 shares in the company, valued at $567,910. This represents a 11.93% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 13,855 shares of company stock worth $7,109,828 in the last three months. Insiders own 4.40% of the company's stock.

Axon Enterprise Price Performance

NASDAQ:AXON opened at $403.54 on Friday. The business's 50-day moving average price is $451.93 and its 200 day moving average price is $527.52. The firm has a market cap of $32.51 billion, a P/E ratio of 162.06, a PEG ratio of 8.61 and a beta of 1.44. Axon Enterprise, Inc has a 52-week low of $339.01 and a 52-week high of $885.91. The company has a quick ratio of 2.29, a current ratio of 2.27 and a debt-to-equity ratio of 0.49.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $1.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.01. The firm had revenue of $807.35 million for the quarter, compared to analyst estimates of $778.91 million. Axon Enterprise had a return on equity of 3.78% and a net margin of 6.90%.Axon Enterprise's revenue was up 33.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 earnings per share. As a group, sell-side analysts predict that Axon Enterprise, Inc will post 1.41 earnings per share for the current fiscal year.

Axon Enterprise Company Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company's hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.