TD Asset Management Inc Has $41.25 Million Stake in Axon Enterprise, Inc $AXON

Key Points

• TD Asset Management cut its Axon Enterprise stake by 8.4% in the second quarter, selling 6,728 shares and retaining 73,586 shares worth approximately $41.25 million. Institutional investors collectively own 79.08% of the company.
• Axon reported strong second-quarter results, with revenue rising 35.3% year over year to $904.4 million and exceeding estimates; management also raised its 2026 revenue-growth outlook to 32%–34%, supported by substantial contracted bookings.
• Despite strong growth and a “Moderate Buy” analyst consensus with a $730.92 target price, concerns remain over Axon’s high valuation, weaker net income and EPS, elevated costs, and recent insider selling.

TD Asset Management Inc reduced its position in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 73,586 shares of the biotechnology company's stock after selling 6,728 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Axon Enterprise worth $41,253,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Creative Financial Designs Inc. ADV bought a new stake in Axon Enterprise in the 4th quarter valued at $28,000. Camelot Portfolios LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth about $30,000. AlphaCentric Advisors LLC bought a new position in shares of Axon Enterprise during the 4th quarter worth about $34,000. Darwin Wealth Management LLC bought a new position in shares of Axon Enterprise during the 2nd quarter worth about $37,000. Finally, Strive Financial Group LLC acquired a new stake in shares of Axon Enterprise during the 4th quarter valued at about $41,000. 79.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Caitlin Elizabeth Kalinowski sold 564 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $478.97, for a total value of $270,139.08. Following the completion of the sale, the director directly owned 3,632 shares in the company, valued at approximately $1,739,619.04. This trade represents a 13.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Patrick W. Smith sold 9,930 shares of Axon Enterprise stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $548.77, for a total value of $5,449,286.10. Following the completion of the transaction, the chief executive officer directly owned 3,031,067 shares of the company's stock, valued at $1,663,358,637.59. This represents a 0.33% decrease in their ownership of the stock. 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 68,989 shares of company stock valued at $36,016,932 in the last 90 days. 4.20% of the stock is owned by corporate insiders.

Key Headlines Impacting Axon Enterprise

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

• Positive Sentiment: Axon raised its full-year 2026 revenue-growth outlook to 32%–34%, supported by approximately $15.1 billion in future contracted bookings and strong momentum in connected devices, AI-enabled software and counter-drone offerings. Second-quarter revenue increased 35.3% year over year to $904.4 million and exceeded analyst expectations. Axon Enterprise Is Up 17.8% After Raising 2026 Revenue Outlook
• Positive Sentiment: Northland Securities raised its FY2027 EPS forecast to $6.49 from $5.53. The firm also increased estimates for Q1, Q2, Q3 and Q4 2027, suggesting stronger expected earnings momentum beyond 2026.
• Positive Sentiment: The company’s second-quarter adjusted earnings and revenue surpassed Wall Street expectations, while management highlighted broad demand for Axon’s public-safety technology ecosystem. The 5 Most Interesting Analyst Questions From Axon’s Q2 Earnings Call
• Neutral Sentiment: Northland reduced its FY2026 EPS estimate to $3.12 from $3.26 and lowered its Q4 2026 forecast to $1.29 from $1.55, partly offsetting the more optimistic 2027 outlook.
• Negative Sentiment: Despite strong sales, quarterly net income fell to $29.4 million from $36.1 million a year earlier, and diluted EPS declined to $0.36 from $0.44. Investors remain concerned about margins, elevated costs, debt and Axon’s very high valuation. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Negative Sentiment: Recent insider selling has added pressure and increased investor caution around the stock’s valuation. Axon Enterprise Trading Down Following Insider Selling

Analysts Set New Price Targets

AXON has been the topic of a number of analyst reports. TD Cowen reissued a "buy" rating on shares of Axon Enterprise in a research note on Wednesday, July 22nd. Zacks Research cut shares of Axon Enterprise from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 10th. UBS Group lifted their price objective on Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Royal Bank Of Canada reiterated an "outperform" rating on shares of Axon Enterprise in a research note on Tuesday, July 21st. Finally, JPMorgan Chase & Co. increased their target price on Axon Enterprise from $750.00 to $755.00 and gave the stock an "overweight" rating in a report on Thursday, May 7th. Thirteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and a consensus target price of $730.92.

Axon Enterprise Stock Down 0.4%

NASDAQ AXON opened at $612.83 on Friday. The stock's 50 day simple moving average is $526.06 and its 200 day simple moving average is $474.40. Axon Enterprise, Inc has a one year low of $339.01 and a one year high of $794.29. The firm has a market cap of $49.78 billion, a PE ratio of 254.29, a price-to-earnings-growth ratio of 12.56 and a beta of 1.39. 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 issued its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.04. The firm had revenue of $904.39 million during the quarter, compared to the consensus estimate of $876.42 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 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.12 EPS. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 1.63 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.

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