Brittany Bagley, the Chief Operating Officer and Chief Financial Officer of Axon Enterprise, Inc. (NASDAQ:AXON), recently sold a significant portion of her holdings in the company. According to a recent SEC filing, Bagley disposed of 6,325 shares of Axon common stock on November 15, totaling approximately $3.79 million. The shares were sold at prices ranging from $596.446 to $600.88.
Following these transactions, Bagley holds 80,135 shares in the company. The sales were executed under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks.
In other recent news, Axon Enterprise Inc. experienced a robust Q3 performance, as highlighted in its latest earnings call. The company reported record bookings and a 32% year-over-year revenue growth, largely driven by their focus on innovation in artificial intelligence (AI) and TASER products. Axon also raised its Q4 revenue guidance to $560-570 million and anticipates full-year revenue to surpass $2.07 billion.
The integration of the recently acquired Dedrone and the launch of new AI-driven products are key developments contributing to Axon's optimism for future growth. The TASER segment, particularly the TASER 10, has shown strong growth with potential for international expansion. Despite a potential sequential margin decline in Q4 due to integration costs from the Dedrone acquisition, Axon maintains a positive outlook, expecting to achieve a 25% adjusted EBITDA margin by 2025.
These recent developments underscore Axon's commitment to modernizing public safety through technology and suggest a promising trajectory for the company's future.
InvestingPro Insights
Axon Enterprise's recent stock performance and financial metrics provide additional context to Brittany Bagley's share sale. According to InvestingPro data, Axon's stock has seen a remarkable 168.48% price total return over the past year, with a 60.83% gain in just the last three months. This strong performance has pushed the stock to trade near its 52-week high, with the current price at 97.66% of that peak.
The company's financial health appears robust, with InvestingPro Tips highlighting that Axon holds more cash than debt on its balance sheet and has liquid assets exceeding short-term obligations. This strong financial position aligns with the company's impressive revenue growth of 32.32% over the last twelve months, reaching $1.94 billion.
However, investors should note that Axon is trading at high valuation multiples. The company's P/E ratio stands at 155.16, and its Price to Book ratio is 22.16, indicating a premium valuation. An InvestingPro Tip suggests that the stock may be in overbought territory based on its RSI (Relative Strength Index).
Despite the high valuation, analysts remain optimistic about Axon's prospects. InvestingPro Tips indicate that net income is expected to grow this year, and 12 analysts have revised their earnings upwards for the upcoming period. This positive outlook is supported by the company's strong gross profit margin, which stands at 59.75% for the last twelve months.
For investors seeking a more comprehensive analysis, InvestingPro offers 23 additional tips for Axon Enterprise, providing a deeper understanding of the company's financial health and market position.
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