Jeffrey C. Kunins, the Chief Product Officer and Chief Technology Officer of Axon Enterprise, Inc. (NASDAQ:AXON), recently sold shares of the company's common stock. The sale comes as Axon demonstrates remarkable performance, with the stock surging over 146% year-to-date and maintaining a "GREAT" financial health score according to InvestingPro analysis. According to a filing with the Securities and Exchange Commission, Kunins executed multiple transactions on December 17, 2024, selling a total of 1,370 shares. The shares were sold at prices ranging from $635.24 to $644.91, amounting to a total of $875,622.
The transactions were part of a pre-arranged trading plan under Rule 10b5-1, which Kunins adopted on May 15, 2024. Following these sales, Kunins' direct ownership of Axon Enterprise stock stands at 125,950 shares.
Additionally, on December 16, 2024, Kunins disposed of 889 shares at a price of $644.91 each to cover tax liabilities related to the vesting of restricted stock units.
In other recent news, Axon Enterprise has been making significant strides in its financial performance and growth trajectory. The company recently reported a 32.32% revenue growth over the past year, with a notable third-quarter performance. This success has been largely attributed to the company's focus on artificial intelligence (AI) and TASER products, which have led to record bookings and a 32% year-over-year growth in revenue.
Investment firms Baird and Morgan Stanley (NYSE:MS) have both expressed confidence in Axon's growth potential. Baird recently raised its stock price target for Axon to $800, citing the company's strong AI growth prospects. Similarly, Morgan Stanley upgraded Axon's stock from Equalweight to Overweight and increased the price target to $700, highlighting the company's robust police tech budgets and competitive edge in AI solutions.
However, recent developments have seen a decline in shares of defense contractors, including Axon, following potential ceasefire reports between Israel and Hezbollah. Despite this, Axon has maintained a positive outlook, raising its Q4 revenue guidance to between $560-570 million and expecting full-year revenue to exceed $2.07 billion. These recent developments underline the dynamic nature of the market and the importance of independent research for investors.
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