Axon Enterprise, Inc $AXON Position Lifted by Asset Dedication LLC

Key Points

• Asset Dedication LLC increased its Axon stake by 22,054% in Q3, ending the period with 30,351 shares valued at about $12.8 million.
• Several other institutional investors also expanded their positions, and institutional investors collectively own 79.08% of Axon shares.
• Axon’s Q3 revenue grew 28% year over year to about $909 million, but both revenue and adjusted EPS missed analyst estimates; the company also lowered its 2026 revenue outlook, while analysts cut some price targets.

Asset Dedication LLC boosted its stake in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 22,054.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,351 shares of the biotechnology company's stock after purchasing an additional 30,214 shares during the period. Axon Enterprise comprises approximately 0.8% of Asset Dedication LLC's holdings, making the stock its 17th largest position. Asset Dedication LLC's holdings in Axon Enterprise were worth $12,824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of AXON. Ashton Thomas Private Wealth LLC boosted its holdings in Axon Enterprise by 5,072.7% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 110,127 shares of the biotechnology company's stock worth $46,531,000 after buying an additional 107,998 shares during the period. CenterBook Partners LP increased its stake in Axon Enterprise by 246.2% in the third quarter. CenterBook Partners LP now owns 4,629 shares of the biotechnology company's stock valued at $1,956,000 after purchasing an additional 3,292 shares during the last quarter. International Assets Investment Management LLC raised its holdings in shares of Axon Enterprise by 9,877.5% in the 3rd quarter. International Assets Investment Management LLC now owns 101,172 shares of the biotechnology company's stock worth $42,747,000 after purchasing an additional 100,158 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of Axon Enterprise by 1,150.8% in the third quarter. Calamos Wealth Management LLC now owns 14,009 shares of the biotechnology company's stock valued at $5,919,000 after purchasing an additional 12,889 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in Axon Enterprise by 330.2% in the 3rd quarter. Westside Investment Management Inc. now owns 2,796 shares of the biotechnology company's stock valued at $1,181,000 after purchasing an additional 2,146 shares during the period. Institutional investors and hedge funds own 79.08% of the company's stock.

Axon Enterprise Stock Performance

Shares of AXON stock opened at $313.00 on Friday. The stock has a 50-day moving average of $441.53 and a 200-day moving average of $475.20. Axon Enterprise, Inc has a one year low of $307.00 and a one year high of $665.07. The stock has a market cap of $25.43 billion, a PE ratio of 100.32, a price-to-earnings-growth ratio of 8.09 and a beta of 1.48. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.15 and a quick ratio of 1.80.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $1.72 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.89 by ($0.17). The firm had revenue of $908.55 million during the quarter, compared to the consensus estimate of $934.33 million. Axon Enterprise had a return on equity of 2.84% and a net margin of 6.19%. The business's revenue for the quarter was up 27.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.17 EPS. As a group, sell-side analysts expect that Axon Enterprise, Inc will post 2.10 earnings per share for the current year.

Axon Enterprise News Roundup

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

• Positive Sentiment: Q3 revenue reached a record $909 million, up 28% year over year, while software and services revenue rose 43%. Axon also reported AI annual recurring revenue above $100 million, signaling continued demand for its software and AI offerings. Axon Q3 results
• Neutral Sentiment: Axon committed an additional $1.2 billion to drone maker Skydio, bringing its stake to 37% and making it Skydio’s exclusive public-safety distributor in the U.S. and Canada. The move could expand Axon’s Drone as First Responder business, but its scale also raises investment and execution risks. Reuters: Axon invests in Skydio
• Negative Sentiment: Q3 adjusted earnings of $1.72 per share and revenue of $908.55 million fell short of analyst expectations. Axon’s 2026 revenue forecast was reduced to $3.6 billion from a consensus of about $3.7 billion; its Q4 revenue guidance also came in below estimates. The company cited delays in federal counter-drone projects, while margin pressure added to concerns. Zacks: Q3 miss and outlook
• Negative Sentiment: Several analysts lowered price targets after the results, and Craig Hallum downgraded AXON from Buy to Hold, adding to pressure on investor sentiment. Benzinga: analyst forecast changes
• Negative Sentiment: A class-action lawsuit over Axon’s license-plate surveillance practices is a potential additional legal and reputational overhang. Class-action announcement

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. TD Cowen dropped their price target on shares of Axon Enterprise from $825.00 to $800.00 and set a "buy" rating for the company in a research note on Monday, October 26th. Raymond James Financial set a $675.00 price target on shares of Axon Enterprise in a research note on Thursday, October 15th. Piper Sandler reissued an "overweight" rating and issued a $540.00 price objective (down from $561.00) on shares of Axon Enterprise in a report on Friday. Northland Securities set a $540.00 price objective on shares of Axon Enterprise in a research report on Friday. Finally, Northcoast Research raised their price target on Axon Enterprise from $650.00 to $680.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Thirteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Axon Enterprise has a consensus rating of "Moderate Buy" and a consensus price target of $631.35.

Insiders Place Their Bets

In other Axon Enterprise news, insider Jeffrey C. Kunins sold 9,605 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $626.70, for a total value of $6,019,453.50. Following the sale, the insider directly owned 97,761 shares of the company's stock, valued at approximately $61,266,818.70. This represents a 8.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of Axon Enterprise stock in a transaction on Friday, September 11th. The stock was sold at an average price of $480.45, for a total transaction of $488,617.65. Following the sale, the insider owned 56,264 shares in the company, valued at $27,032,038.80. This represents a 1.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 37,397 shares of company stock worth $21,234,034. 4.20% of the stock is owned by corporate insiders.

Axon Enterprise Company Profile

Axon Enterprise develops technology and services for public safety agencies. Its products include TASER conducted-energy weapons, body-worn and in-car cameras, and related hardware designed to support law enforcement and other safety professionals.

The company also provides cloud-based software for managing digital evidence, records and operational workflows. Its Axon Evidence platform helps agencies store, organize and share video and other evidence, while its broader software offerings include tools for dispatch and records management.

Founded in 1993 as TASER International, the company adopted the name Axon Enterprise in 2017 as it expanded beyond conducted-energy weapons into connected devices and software.

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