Axon Enterprise, Inc $AXON Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management cut its Axon Enterprise stake by 12.4% in the second quarter, selling 11,758 shares and retaining 83,287 shares valued at approximately $46.7 million. Institutional investors collectively own 79.08% of the company.
• Wall Street remains broadly positive, with 13 analysts rating Axon a Buy and three rating it a Hold. The consensus rating is Moderate Buy, with an average price target of $730.92.
• Axon reported quarterly revenue of $904.4 million, up 35.3% year over year, and EPS of $1.88, beating estimates. However, insiders sold 58,989 shares worth about $30.5 million over the past 90 days, while the stock’s elevated valuation remains a concern.

Assenagon Asset Management S.A. lessened its holdings in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 12.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,287 shares of the biotechnology company's stock after selling 11,758 shares during the period. Assenagon Asset Management S.A. owned about 0.10% of Axon Enterprise worth $46,692,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Axon Enterprise by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 9,367,224 shares of the biotechnology company's stock valued at $5,319,928,000 after buying an additional 53,060 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Axon Enterprise by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 2,226,159 shares of the biotechnology company's stock valued at $1,265,657,000 after acquiring an additional 35,544 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Axon Enterprise by 1,198.7% in the fourth quarter. Baillie Gifford & Co. now owns 1,642,578 shares of the biotechnology company's stock valued at $932,869,000 after acquiring an additional 1,516,099 shares in the last quarter. Sands Capital Management LLC lifted its position in shares of Axon Enterprise by 11.6% in the fourth quarter. Sands Capital Management LLC now owns 1,609,436 shares of the biotechnology company's stock valued at $914,047,000 after acquiring an additional 167,095 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in shares of Axon Enterprise by 326.9% in the fourth quarter. Wellington Management Group LLP now owns 1,539,738 shares of the biotechnology company's stock worth $874,463,000 after acquiring an additional 1,179,038 shares during the last quarter. Institutional investors and hedge funds own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AXON. Morgan Stanley increased their price objective on Axon Enterprise from $600.00 to $640.00 and gave the company an "overweight" rating in a research note on Thursday. Piper Sandler lifted their target price on shares of Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research note on Thursday. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Axon Enterprise in a report on Wednesday. UBS Group increased their target price on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Citizens Jmp reissued a "market outperform" rating and issued a $700.00 price target on shares of Axon Enterprise in a research note on Thursday, June 25th. Thirteen research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $730.92.

Insider Transactions at Axon Enterprise

In related news, CEO Patrick W. Smith sold 20,000 shares of the company's stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $500.00, for a total value of $10,000,000.00. Following the transaction, the chief executive officer directly owned 3,060,997 shares in the company, valued at approximately $1,530,498,500. This represents a 0.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Elizabeth Reid Coughlin sold 1,554 shares of the stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $485.00, for a total value of $753,690.00. Following the completion of the transaction, the insider owned 34,024 shares of the company's stock, valued at $16,501,640. The trade was a 4.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 58,989 shares of company stock valued at $30,527,983 in the last ninety days. 4.20% of the stock is currently owned by corporate insiders.

Trending Headlines about Axon Enterprise

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

• Positive Sentiment: Strong Q2 growth and higher outlook: Axon reported second-quarter revenue of approximately $904 million, up 35% year over year and above analyst expectations. The company raised its 2026 revenue-growth forecast to 32%–34%, citing record bookings, international expansion and demand for its connected devices and software. Axon Beat Estimates and Raised Guidance, Shares Dropped
• Positive Sentiment: AI and Dedrone momentum: AI Era revenue, including Draft One automated police-report software, grew nearly 700% from a year earlier. Dedrone counter-drone revenue exceeded $100 million, supported by deployments at all 11 World Cup sites, strengthening Axon’s long-term growth narrative. Axon Stock Falls After AI, Drone Wins Fuel Q2 Earnings Beat
• Positive Sentiment: Analyst and retail support: UBS raised its price target to $600 while maintaining a Neutral rating, and retail traders showed interest in buying the post-earnings pullback. William Blair also reiterated a Buy rating, highlighting recurring-revenue growth, counter-drone demand and Axon’s expanding AI platform. UBS Raises Axon Price Target
• Neutral Sentiment: Valuation remains elevated: Axon’s rapid share-price recovery has increased scrutiny of its valuation. Some analysis considers the stock expensive on discounted cash flow and only fairly valued on sales multiples, potentially limiting further gains unless growth remains strong. Axon Stock Could Be Overvalued
• Negative Sentiment: Margins and cash flow pressured the initial reaction: Software gross margin declined to 71.3% from 75.6%, while a greater mix of professional services, memory costs and investments in new products reduced profitability. Free cash flow also turned negative, and quarterly EPS was reported as slightly below some consensus estimates, prompting an initial post-earnings selloff. Axon Posts Lower Quarterly Gross Margin

Axon Enterprise Trading Up 9.3%

Shares of AXON opened at $571.01 on Friday. Axon Enterprise, Inc has a 12-month low of $339.01 and a 12-month high of $878.62. The firm has a market capitalization of $46.02 billion, a P/E ratio of 236.93, a P/E/G ratio of 11.65 and a beta of 1.39. The firm has a 50-day moving average price of $513.80 and a 200 day moving average price of $474.59. The company has a current ratio of 2.15, a quick ratio of 1.93 and a debt-to-equity ratio of 0.47.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last issued its earnings results on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping analysts' consensus estimates of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million for the quarter, compared to the consensus estimate of $876.42 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. Sell-side analysts forecast that Axon Enterprise, Inc will post 1.63 EPS for the current 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.

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