Jennison Associates Reduces $41M in Axon Enterprise, Inc. ($AXON)
The investment firm trimmed its position in Axon Enterprise by 8.2%, according to a recent 13F filing.
Key Points
- Jennison Associates trimmed its Axon Enterprise position by 73,717 shares, reducing its holdings by 8.2% to 826,680 shares valued at $422.1 million.
- Axon Enterprise, trading near $510.6, has a market cap of $37.47 billion and a P/E ratio of 189.0, with a 52-week range between $339.01 and $885.92.
- Insiders, including CEO Patrick Smith, sold shares in June 2026, while analysts like Citizens reiterated a 'buy' rating with a $700 target.
Important disclosure: Podchat is not a registered investment adviser, broker-dealer, or financial planner. This article is for informational and educational purposes only and is not a recommendation to buy, sell, or hold any security. Content may be generated by automated systems using public filings, market data, and third-party sources, and may contain errors or omissions. Investing involves risk, including possible loss of principal. Past performance, insider activity, analyst ratings, price targets, sentiment scores, and hypothetical or backtested results are not guarantees of future performance. Please do your own research and consult a qualified professional before making investment decisions.
Jennison Associates recently trimmed its stake in Axon Enterprise, Inc. (NasdaqGS: AXON) by 73,717 shares, reflecting an 8.2% decrease. As of the filing, the firm holds 826,680 shares valued at approximately $422.1 million. This change was disclosed in a recent 13F filing with the SEC, reflecting holdings as of the reporting period.
What Changed in Jennison Associates' Axon Enterprise Position
Jennison Associates reduced its position in Axon Enterprise by 8.2%, cutting its holdings from 900,397 shares to 826,680 shares. The value of the position now stands at about $422.1 million. This adjustment indicates a strategic move by the investment firm in managing its portfolio.
Other Institutional Activity in Axon Enterprise
Several other institutional investors have also adjusted their positions in Axon Enterprise. BlackRock, Inc. reduced its holdings by 251,151 shares, ending with 7,989,186 shares valued at approximately $3.39 billion, a 3% decrease. Vanguard Capital Management LLC opened a new position with 5,043,125 shares worth around $2.14 billion. State Street Corp increased its stake by 131,605 shares, a 3.7% rise, bringing its total to 3,681,962 shares valued at $1.56 billion. Baillie Gifford & Co added 817,149 shares, marking a 49.7% increase, with 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 $510.6 on Tuesday. The company has a market capitalization of approximately $37.47 billion and a P/E ratio of 189.0, indicating a high valuation relative to earnings. Axon's stock has experienced volatility, with a 52-week low of $339.01 and a high of $885.92. The stock's 50-day moving average is $420.37, while the 200-day moving average stands at $537.25. The company's financial health is supported by 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
In its recent earnings report, Axon Enterprise posted revenue of approximately $2.98 billion, reflecting a growth rate of 33.7%. The company reported an EPS of $2.46, with a net margin of 6.9% and a return on equity of 6.8%. Axon is scheduled to release its next earnings report on August 3, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
-
Forward outlook
4 target cuts vs 1 raises.
-
EPS & revenue
EPS missed estimates by 1.3%. Revenue beat estimates by 1.7%.
-
Profit surprise
EBITDA missed by 65 percent. Operating income missed by 69 percent.
-
Pre-earnings setup
Bar was high, analysts already very bullish.
-
Analyst signal
1 target raise, 4 target cuts.
-
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 insider transactions were reported in June 2026. Joshua Isner, President, sold 13,000 shares on June 5 at an average price of $488.45, and 32,796 shares on June 1 at $476.88. CEO Patrick Smith sold 20,000 shares at $500 on June 4 under a planned sale. Cameron Brooks, Chief Revenue Officer, sold 1,242 shares at $500 on the same day, also under a planned transaction. Additionally, Elizabeth Reid Coughlin, Chief Human Officer, sold 1,554 shares at $485, and COO & CFO Brittany Bagley sold 5,969 shares at $485 on June 2.
Analysts Set New Price Targets
Analyst activity includes Citizens reiterating a 'buy' rating with a $700 price target on June 25, 2026. Barclays maintained a 'buy' rating with a $523 target on May 8, 2026. UBS kept a 'hold' rating with a $440 target on May 7, while JP Morgan maintained its 'buy' rating with a $755 target. Piper Sandler also maintained a 'buy' rating, targeting $674.
About Axon Enterprise
Axon Enterprise, Inc., headquartered in Scottsdale, Arizona, provides public safety technology solutions across the globe. The company operates through two main segments: Software and Services, and Connected Devices. It offers a range of products including TASER conducted energy devices, body cameras, and cloud-based software solutions for managing digital evidence. Led by CEO Patrick W. Smith, Axon employs approximately 5,100 people and serves various governmental and commercial entities.
Bottom Line
Jennison Associates' recent trimming of its position in Axon Enterprise reflects a strategic portfolio adjustment. Investors track such filings to understand institutional confidence and market trends. It's important to remember that 13F filings are backward-looking and may not represent the investor's current position.
Get Axon Enterprise, Inc. alerts
New 13F filings, insider trades, and analyst moves on $AXON, sent to your inbox. Free, and you can unsubscribe anytime.
This instant news alert was generated by automated narrative technology and financial data from Podchat and public regulatory filings. It is for informational purposes only and is not financial advice.