New York State Teachers Retirement System Reduces $474K in Axon Enterprise, Inc. ($AXON)
The fund reduced its stake in Axon Enterprise by 845 shares, a 1.4% decrease.
Key Points
- New York State Teachers Retirement System reduced its Axon Enterprise stake by 845 shares, a 1.4% decrease, leaving it with 58,408 shares valued at $29.8 million.
- Axon Enterprise shares traded around $510.60 on Tuesday with a market cap of $37.5 billion and a P/E ratio of 189.
- Insiders, including CEO Patrick Smith, sold shares in early June, and analysts have set price targets ranging from $440 to $825.
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New York State Teachers Retirement System recently reduced its holdings in Axon Enterprise, Inc. (NasdaqGS: AXON) by 845 shares, which is a 1.4% decrease. This brings the fund's total to 58,408 shares, valued at about $29.8 million as of the latest Form 13F filing with the SEC.
What Changed in New York State Teachers Retirement System's Axon Enterprise Position
The fund trimmed its position in Axon Enterprise by 845 shares, moving from 59,253 shares to 58,408 shares. This adjustment represents a 1.4% decrease in its holdings, with the reported value now standing at approximately $29.8 million.
Other Institutional Activity in Axon Enterprise
Among other institutional investors, BlackRock, Inc. reduced its position by 251,151 shares, ending with 7,989,186 shares valued at $3.39 billion. Vanguard Capital Management LLC opened a new position with 5,043,125 shares worth about $2.14 billion. State Street Corp increased its holdings by 131,605 shares, resulting in a 3.7% increase to 3,681,962 shares valued at $1.56 billion. Baillie Gifford & Co also boosted its stake by 817,149 shares, marking a 49.7% increase to 2,459,727 shares, valued at about $1.04 billion.
Axon Enterprise, Inc. Stock Down 6.7%
Shares of Axon Enterprise traded near $510.60 on Tuesday. The company has a market capitalization of approximately $37.5 billion and a P/E ratio of 189. Its forward P/E is 44, and it carries a beta of 1.42. The stock's 52-week range is between $339.01 and $885.92, with a 50-day moving average of $420.37 and a 200-day moving average of $537.25. Axon maintains a current ratio of 2.27 and a quick ratio of 1.70, with a debt-to-equity ratio of 52.07.
$AXON stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Axon Enterprise reported revenues of $2.98 billion, reflecting a 33.7% growth. The company's net margin stands at 6.9%, with a return on equity of 6.8%. The next earnings release 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.
Several insiders at Axon Enterprise sold shares in early June. President Joshua Isner sold 13,000 shares on June 5 at an average price of $488.45, while CEO Patrick Smith sold 20,000 shares on June 4 under a planned sale at $500 per share. Chief Revenue Officer Cameron Brooks sold 1,242 shares on the same day at the same price. Other executives, including Elizabeth Reid Coughlin and Brittany Bagley, also sold shares in early June.
Analysts Set New Price Targets
Analysts have been active with Axon Enterprise. On June 25, 2026, Citizens reiterated a 'buy' rating with a target of $700. Earlier, Barclays maintained a 'buy' rating with a $523 target on May 8, while UBS held a 'hold' rating at $440 on May 7. JP Morgan maintained a 'buy' rating with a $755 target on the same day.
About Axon Enterprise
Axon Enterprise, Inc. provides technology solutions for public safety, operating in the industrial sector. The company, headquartered in Scottsdale, Arizona, is led by CEO Patrick W. Smith and employs about 5,100 people. Axon works in two main areas: Software and Services, which includes cloud-based solutions for managing digital evidence, and Connected Devices, which offers hardware like TASER devices, body cameras, and more. Its products serve various government levels and commercial entities worldwide.
Bottom Line
The New York State Teachers Retirement System's reduction in Axon Enterprise shares is part of a broader trend among institutional investors. While Axon's stock performance remains strong, with analysts generally optimistic about its future, the 13F filing reflects past positions and may not indicate current strategies.
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