Jeffrey C. Kunins, Chief Product Officer and Chief Technology Officer at Axon Enterprise, Inc. (NASDAQ:AXON), recently sold shares worth approximately $646,328. The transactions, executed on December 23, saw Kunins sell a total of 1,035 shares at prices ranging from $622.68 to $626.17 per share. Following these sales, Kunins now holds 124,243 shares of Axon Enterprise, which currently has a market capitalization of $47.57 billion and has delivered an impressive 144% return year-to-date. According to InvestingPro analysis, the stock appears overvalued at current levels.
Additionally, Kunins disposed of 672 shares to cover tax liabilities related to the vesting of restricted stock units, valued at $631.69 per share. These transactions were conducted under a pre-established Rule 10b5-1 trading plan, which Kunins adopted on May 15, 2024. InvestingPro subscribers can access 20+ additional insights about Axon, including detailed financial health metrics and comprehensive valuation analysis in the Pro Research Report.
In other recent news, Axon Enterprise has been making considerable strides in its financial performance and growth trajectory. The company reported a commendable revenue growth of 32.32% over the past year, with a Q3 performance bolstered by its focus on artificial intelligence (AI) and TASER products. This led to record bookings and a 32% year-over-year growth in revenue. Axon raised its Q4 revenue guidance to between $560-570 million and expects full-year revenue to exceed $2.07 billion.
Investment firms Baird and Morgan Stanley (NYSE:MS) have shown confidence in Axon's growth, with Baird increasing its stock price target for Axon to $800 and Morgan Stanley upgrading the stock from Equalweight to Overweight. Both firms highlighted Axon's potential in AI and its strong financial position. However, recent developments have seen defense shares, including Axon, experience a decline following potential ceasefire reports between Israel and Hezbollah. These are recent developments that reflect the dynamic nature of the market.
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