BNP Paribas Asset Management Holding S.A. Reduces $19M in Axon Enterprise, Inc. ($AXON)
BNP Paribas trimmed its holdings in Axon Enterprise by 15.6%, now holding 184,412 shares.
Key Points
- BNP Paribas Asset Management cut its stake in Axon Enterprise by 34,097 shares, a 15.6% decrease, ending with 184,412 shares worth $103.4 million.
- Shares of Axon Enterprise traded near $560.61 on Wednesday, with a market cap of $45.2 billion and a P/E ratio of 227.
- Recent insider sales include CEO Patrick Smith selling 20,000 shares, while analysts maintain a positive outlook with new price targets.
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BNP Paribas Asset Management Holding S.A. recently reduced its stake in Axon Enterprise, Inc. (NasdaqGS: AXON) by 34,097 shares. This move lowered its holdings by 15.6% to a total of 184,412 shares, valued at approximately $103.4 million. The filing, reflecting positions as of the reporting period, shows the shares had a cost basis of $504.38 each.
BNP Paribas Asset Management Holding S.A. vs. the S&P 500
Hypothetical, simulated performance of disclosed positions vs. the S&P 500. Not realized profit and not investment advice. Past performance does not indicate future results. Details.
What Changed in BNP Paribas's Axon Enterprise Position
BNP Paribas cut its position in Axon Enterprise by 15.6%, selling 34,097 shares. The asset manager now holds 184,412 shares, down from 218,509 shares previously. The value of its holdings stands at $103.4 million.
Other Institutional Activity in Axon Enterprise
Several other institutional investors also made changes to their Axon Enterprise positions. BlackRock, Inc. reduced its holdings by 251,151 shares, ending with 7,989,186 shares worth about $3.39 billion. Vanguard Capital Management LLC opened a new position with 5,043,125 shares valued at approximately $2.14 billion. State Street Corp increased its holdings by 131,605 shares, bringing its total to 3,681,962 shares valued at $1.56 billion. Baillie Gifford & Co added 817,149 shares, a 49.7% increase, to hold 2,459,727 shares worth $1.04 billion.
Axon Enterprise, Inc. Stock Down 6.7%
Shares of Axon Enterprise traded near $560.61 on Wednesday. The company has a market cap of $45.2 billion and a P/E ratio of 227, with a forward P/E of 53.02. It has a beta of 1.422, indicating some volatility compared to the market. Over the past year, the stock's price ranged from a low of $339.01 to a high of $885.92. Its 50-day moving average is $422.72, and the 200-day moving average is $536.07.
$AXON stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Axon Enterprise reported revenues of $2.98 billion, reflecting a growth of 33.7%. The company's net margin is 6.9%, and it achieved a return on equity of 6.8%. The next earnings report is scheduled for August 3, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
4 target cuts vs 1 raises.
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EPS & revenue
EPS missed estimates by 1.3%. Revenue beat estimates by 1.7%.
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Profit surprise
EBITDA missed by 65 percent. Operating income missed by 69 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
1 target raise, 4 target cuts.
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Earnings quality
Gross margin down 1.5 points. Operating margin up 5.7 points. Positive free cash flow.
Earnings Call Summary
The quarter was the strongest ever for first quarter results, with revenue up 34 percent year over year to 807 million dollars. AI Era Plan bookings jumped 140 percent and Dedrone counter-drone business exploded up 500 percent, driven by demand across law enforcement, enterprise, and international markets. Management says they are at an inflection point where AI and connected devices are becoming essential infrastructure that customers want to deploy immediately, with nearly all large police agencies now including AI in their technology plans.
Guidance Axon expects full year revenue growth of 30 to 32 percent and raised that guidance from prior expectations. The company plans to spend about 450 million dollars on free cash flow this year and maintain 25.5 percent adjusted EBITDA margins. Management says AI adoption and counter-drone demand are accelerating faster than planned.
Severe negative reset. The report materially damaged the forward outlook and likely forces major downward revisions.
Insider Buying and Selling at Axon Enterprise, Inc.
Recent insider activity includes CEO Patrick Smith selling 20,000 shares on June 4, 2026, under a Rule 10b5-1 plan, at an average price of $500. Additionally, President Joshua Isner sold 13,000 shares on June 5, 2026, at an average price of $488.45 without a pre-planned trading agreement.
Analysts Set New Price Targets
On June 25, 2026, Citizens reiterated its buy rating for Axon Enterprise with a price target of $700. Barclays maintained its buy rating with a target of $523 on May 8, 2026. Overall, the consensus among analysts is a buy, with a mean price target of $662.04 based on 18 analyst opinions.
About Axon Enterprise
Axon Enterprise, Inc., headquartered in Scottsdale, Arizona, provides public safety technology solutions. The company operates in two segments: Software and Services, and Connected Devices. Its offerings include cloud-based software for managing digital evidence and hardware solutions like TASER devices and body cameras. Founded in 1993, Axon serves a wide range of customers, including government agencies and commercial enterprises.
Bottom Line
BNP Paribas's reduction in its Axon Enterprise stake is part of the ongoing adjustments by institutional investors in the company's shares. Investors often track such filings for insights into institutional sentiment, keeping in mind that these 13F filings are historical snapshots. Axon Enterprise remains a company with a strong market presence in public safety technology solutions.
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