New York State Common Retirement Fund Adds $280K in Axon Enterprise, Inc. ($AXON)
The fund added 500 shares of Axon Enterprise, bringing its total to 39,421 shares.
Key Points
- New York State Common Retirement Fund raised its Axon Enterprise stake by 500 shares to a total of 39,421 shares, valued at $22.1 million.
- Axon Enterprise, Inc. trades on the NasdaqGS with a market cap of $45.2 billion and a P/E ratio of 227.
- Insiders at Axon Enterprise, including CEO Patrick Smith, sold shares in June 2026, with analysts maintaining buy ratings.
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The New York State Common Retirement Fund has increased its investment in Axon Enterprise, Inc. (NasdaqGS: AXON), adding 500 shares. This brings its total holdings to 39,421 shares, valued at approximately $22.1 million, as per its latest filing with the SEC. The filing reflects the fund's position as of the end of the reporting period, which may not necessarily indicate its current holdings.
New York State Common Retirement Fund 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 New York State Common Retirement Fund's Axon Enterprise Position
The New York State Common Retirement Fund boosted its stake in Axon Enterprise by 500 shares, a 1.3% increase from its previous holding of 38,921 shares. The total value of the fund's investment in Axon now stands at around $22.1 million.
Other Institutional Activity in Axon Enterprise
Several other large investors have also made moves in Axon Enterprise. BlackRock, Inc. trimmed its holdings by 251,151 shares, leaving it with 7,989,186 shares valued at about $3.39 billion. Vanguard Capital Management LLC opened a new position with 5,043,125 shares, worth roughly $2.14 billion. State Street Corp increased its stake by 131,605 shares to a total of 3,681,962 shares, valued at $1.56 billion. Baillie Gifford & Co significantly boosted its holdings by 817,149 shares, ending with 2,459,727 shares valued at approximately $1.04 billion.
Axon Enterprise, Inc. Stock Down 6.7%
As of Wednesday, shares of Axon Enterprise traded near $560.61. The company, which operates in the Aerospace & Defense industry, has a market capitalization of about $45.2 billion. Axon's P/E ratio is 227, with a forward P/E of 53. The stock's beta is 1.42, indicating higher volatility compared to the market. Over the past 52 weeks, the stock price has ranged from $339.01 to $885.92, with a 50-day moving average of $422.72 and a 200-day moving average of $536.07.
$AXON stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Axon Enterprise reported revenue of $2.98 billion, reflecting a growth rate of 33.7%. The company's net margin stands at 6.9%, and its return on equity is 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 at Axon Enterprise includes several planned sales. CEO Patrick Smith sold 10,000 and 20,000 shares at $500 each on June 29 and June 4, respectively, under a Rule 10b5-1 plan. President Joshua Isner sold 13,000 shares at an average price of $488.45 on June 5. Additionally, COO & CFO Brittany Bagley sold 5,969 shares at $485 on June 2.
Analysts Set New Price Targets
Analysts remain optimistic about Axon's prospects. On June 25, 2026, Citizens reiterated a buy rating with a $700 price target. Barclays maintained its buy rating with a $523 target on May 8. UBS held a neutral stance with a hold rating and a $440 target on May 7, while JP Morgan maintained a buy rating with a $755 target on the same day. The consensus recommendation for Axon is a buy, with a mean target price of $662.04 across 18 analyst opinions.
About Axon Enterprise
Axon Enterprise, Inc. is a leader in public safety technology, providing solutions for capturing, storing, and analyzing digital evidence. The company operates through two segments: Software and Services, and Connected Devices. Axon is known for its TASER brand conducted energy devices, body cameras, and virtual reality training tools. Headquartered in Scottsdale, Arizona, and led by CEO Patrick W. Smith, Axon serves a diverse clientele including government agencies and commercial enterprises.
Bottom Line
The New York State Common Retirement Fund's increased stake in Axon Enterprise highlights institutional confidence in the company. Investors often track these filings closely as they provide insights into institutional sentiment. However, it's important to remember that 13F filings are backward-looking and may not reflect the current position. Axon Enterprise's strong market presence and analyst support continue to make it a company to watch.
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