Russell Investments Group 13F: Adds $22M to AXON Stake

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.

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 Up 37.3%

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.

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.

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.