SCOTTSDALE, Ariz.—Julie A. Cullivan, a director at Axon Enterprise, Inc. (NASDAQ:AXON), recently sold 1,261 shares of the company's common stock. The sale comes as Axon, now valued at over $52 billion, trades near its 52-week high with a remarkable 196% return over the past year. According to InvestingPro analysis, the company maintains a "GREAT" financial health score of 3.12 out of 5. The transaction, which took place on December 4, 2024, was executed at a weighted average price of $682.06 per share, resulting in a total sale value of approximately $860,077.
Following this sale, Cullivan retains ownership of 2,392 shares in the company. The transaction was carried out in multiple trades at prices ranging from $681.88 to $682.54, according to the filing.
In other recent news, Axon Enterprise has been making headlines due to its impressive financial performance and favorable analyst outlook. Morgan Stanley (NYSE:MS) recently upgraded Axon from Equalweight to Overweight, indicating a growing confidence in the company's growth rate, which has been reported between 25-30%. This upgrade follows Axon's robust third-quarter performance, with record bookings and a 32% year-over-year growth in revenue.
The company's focus on artificial intelligence and TASER products has played a significant role in this success. Axon also raised its Q4 revenue guidance to between $560-570 million and expects full-year revenue to exceed $2.07 billion. Furthermore, Axon's financial health is underpinned by its strong gross profit margins of 59.75% and more cash than debt on its balance sheet.
However, shares of Axon and other defense sector companies, including Lockheed Martin (NYSE:LMT) and Northrop Grumman (NYSE:NOC), experienced a decline in response to potential ceasefire reports between Israel and Lebanon's Hezbollah. These are recent developments and reflect the dynamic nature of the market. As always, investors are advised to conduct their own research and consult with a financial advisor.
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