Cullinan Associates Inc. Purchases 11,401 Shares of Axon Enterprise, Inc $AXON

Cullinan Associates Inc. lifted its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 2,280.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,901 shares of the biotechnology company's stock after purchasing an additional 11,401 shares during the quarter. Cullinan Associates Inc.'s holdings in Axon Enterprise were worth $5,028,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in AXON. State Street Corp lifted its holdings in Axon Enterprise by 5,700.2% during the second quarter. State Street Corp now owns 213,561,844 shares of the biotechnology company's stock worth $119,724,905,000 after acquiring an additional 209,879,882 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in Axon Enterprise by 18,050.2% in the second quarter. Envestnet Asset Management Inc. now owns 13,200,075 shares of the biotechnology company's stock valued at $7,400,094,000 after acquiring an additional 13,127,348 shares during the period. Robeco Institutional Asset Management B.V. grew its stake in Axon Enterprise by 391,214.9% in the third quarter. Robeco Institutional Asset Management B.V. now owns 6,988,884 shares of the biotechnology company's stock valued at $2,952,943,000 after acquiring an additional 6,987,098 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Axon Enterprise by 5,022.8% in the third quarter. Assenagon Asset Management S.A. now owns 4,266,589 shares of the biotechnology company's stock worth $1,802,719,000 after acquiring an additional 4,183,302 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Axon Enterprise by 8,432.6% in the second quarter. The Manufacturers Life Insurance Company now owns 3,537,957 shares of the biotechnology company's stock worth $1,983,414,000 after acquiring an additional 3,496,493 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on AXON shares. Argus lifted their price objective on Axon Enterprise from $460.00 to $600.00 and gave the company a "buy" rating in a report on Thursday, September 3rd. Piper Sandler reissued an "overweight" rating and issued a $540.00 price objective (down from $561.00) on shares of Axon Enterprise in a research report on Friday. Barclays increased their target price on shares of Axon Enterprise from $523.00 to $688.00 and gave the stock an "overweight" rating in a report on Thursday, August 6th. Northcoast Research raised their target price on shares of Axon Enterprise from $650.00 to $680.00 and gave the company a "buy" rating in a research report on Tuesday, August 11th. Finally, Northland Securities set a $540.00 price target on shares of Axon Enterprise in a research note on Friday. Thirteen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Axon Enterprise currently has an average rating of "Moderate Buy" and an average target price of $631.35.

Key Axon Enterprise News

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

Insiders Place Their Bets

In related news, CEO Patrick W. Smith sold 10,000 shares of the stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $508.99, for a total value of $5,089,900.00. Following the sale, the chief executive officer owned 3,118,012 shares in the company, valued at approximately $1,587,036,927.88. This represents a 0.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Isaiah Fields sold 1,017 shares of the firm's stock in a transaction on Friday, September 11th. The shares were sold at an average price of $480.45, for a total value of $488,617.65. Following the sale, the insider directly owned 56,264 shares of the company's stock, valued at $27,032,038.80. This represents a 1.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 37,397 shares of company stock valued at $21,234,034 over the last 90 days. 4.20% of the stock is owned by insiders.

Axon Enterprise Price Performance

Shares of NASDAQ AXON opened at $313.00 on Friday. The company has a quick ratio of 1.80, a current ratio of 2.15 and a debt-to-equity ratio of 0.47. The business's 50 day moving average price is $441.53 and its two-hundred day moving average price is $475.20. The company has a market cap of $25.43 billion, a PE ratio of 100.32, a price-to-earnings-growth ratio of 5.95 and a beta of 1.48. Axon Enterprise, Inc has a twelve month low of $307.00 and a twelve month high of $665.07.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last released its quarterly earnings data 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). Axon Enterprise had a net margin of 7.56% and a return on equity of 3.95%. The business had revenue of $908.55 million during the quarter, compared to analyst estimates of $934.33 million. During the same period in the previous year, the business earned $1.17 earnings per share. The business's quarterly revenue was up 27.8% on a year-over-year basis. On average, analysts predict that Axon Enterprise, Inc will post 2.10 EPS for the current year.

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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