Russell Investments Group Adds $22M in Axon Enterprise, Inc. ($AXON)
Russell Investments Group boosted its position in Axon Enterprise by 57.6%, now holding 104,995 shares.
Key Points
- Russell Investments Group increased its Axon Enterprise stake by 57.6%, adding 38,374 shares to reach a total of 104,995 shares worth $58.9 million as of the latest 13F filing.
- Axon Enterprise, trading at $560.61 on Wednesday, has a market cap of $45.19 billion and a P/E ratio of 226.97, with a 52-week range between $339.01 and $885.92.
- Recent insider selling includes CEO Patrick Smith, who sold 20,000 shares on June 4 under a planned sale, while analysts maintain a 'buy' consensus with a mean price target of $662.04.
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Russell Investments Group has increased its stake in Axon Enterprise, Inc. (NasdaqGS: AXON) by 57.6%, according to its latest filing with the SEC. The investment firm added 38,374 shares, bringing its total holdings to 104,995 shares valued at approximately $58.9 million as of the reporting period ending on May 8, 2026.
Russell Investments Group 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 Russell Investments Group's Axon Enterprise Position
Russell Investments Group boosted its position in Axon Enterprise, adding 38,374 shares to its portfolio. This increase brought the total number of shares owned to 104,995, a significant 57.6% increase from its previous holding of 66,621 shares. The value of this position is now about $58.9 million.
Other Institutional Activity in Axon Enterprise
Among other notable institutional investors, BlackRock, Inc. reduced its holdings by 251,151 shares, leaving it with 7,989,186 shares valued at $3.39 billion. Vanguard Capital Management LLC opened a new position with 5,043,125 shares worth approximately $2.14 billion. State Street Corp increased its stake by 131,605 shares to hold 3,681,962 shares valued at $1.56 billion. Baillie Gifford & Co grew its position by 817,149 shares, reaching a total of 2,459,727 shares worth about $1.04 billion.
Axon Enterprise, Inc. Stock Down 6.7%
Shares of Axon Enterprise traded near $560.61 on Wednesday. The company boasts a market capitalization of $45.19 billion and a P/E ratio of 226.97, with a forward P/E of 53.02. Axon's stock has experienced a 52-week low of $339.01 and a high of $885.92. The stock's 50-day moving average is $422.72, and the 200-day moving average is $536.07. It 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 revenue of approximately $2.98 billion, reflecting a growth rate of 33.7%. The company's net margin stands at 6.91%, with a return on equity of 6.77%. Earnings per share were reported at $2.47. 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 at Axon Enterprise includes several planned and unplanned sales. CEO Patrick Smith sold 20,000 shares on June 4 under a Rule 10b5-1 plan, and an additional 10,000 shares on June 29. President Joshua Isner sold 13,000 shares on June 5, and Chief Revenue Officer Cameron Brooks sold 1,242 shares on June 4, both under planned transactions.
Analysts Set New Price Targets
Analyst activity has been robust, with Citizens reiterating its "buy" rating and setting a price target of $700 on June 25. Barclays maintained its "buy" rating with a target of $523 on May 8. JP Morgan also maintained its "buy" rating, with a higher target of $755 on May 7. The consensus among 18 analysts is a "buy" recommendation with an average target price of $662.04.
About Axon Enterprise
Axon Enterprise, Inc., headquartered in Scottsdale, Arizona, provides public safety technology solutions. It operates through two main segments: Software and Services, and Connected Devices. The Software and Services segment offers cloud-based solutions like Axon Evidence and Axon Records for managing digital evidence. The Connected Devices segment includes TASER brand devices, body cameras, and other hardware products. Led by CEO Patrick W. Smith, the company serves various government and commercial entities worldwide.
Bottom Line
Axon Enterprise continues to attract institutional interest, with Russell Investments Group significantly boosting its holdings. The company's stock performance and analyst ratings suggest ongoing optimism, although insider selling has been noted. Investors often track such 13F filings to gauge institutional sentiment, keeping in mind that these reports are historical and may not reflect current positions.
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