Joshua Isner, President of Axon Enterprise, Inc. (NASDAQ:AXON), recently sold a significant amount of the company's stock, according to a recent SEC filing. The transactions took place on December 3 and December 4, 2024. The sales come as Axon's stock has delivered remarkable returns, with InvestingPro data showing a 183% gain over the past year and the stock trading near its 52-week high.
On December 3, Isner sold shares totaling approximately $1.46 million, with prices ranging from $638.00 to $652.79 per share. These sales were part of a pre-arranged trading plan established on September 15, 2023, as noted in the filing. Additionally, on December 4, Isner sold shares valued at $557,687, at a price of $667.09 per share.
These sales follow prior transactions on December 2, where Isner disposed of shares to cover tax liabilities related to the vesting of restricted stock units, amounting to approximately $1.5 million, with prices between $636.39 and $646.96 per share.
The transactions reflect Isner's continued management of his holdings in Axon Enterprise, a company known for its development of public safety technologies.
In other recent news, Axon Enterprise Inc. reported a robust third-quarter performance, with record bookings and a 32% year-over-year growth in revenue. The company's focus on artificial intelligence (AI) and TASER products has played a significant role in this success. Axon raised its Q4 revenue guidance to between $560-570 million and expects full-year revenue to exceed $2.07 billion. This robust performance comes on the heels of the integration of recently acquired Dedrone and the launch of new AI-driven products.
Morgan Stanley (NYSE:MS) upgraded the stock from Equalweight to Overweight, reflecting a growing confidence in Axon's growth rate. The upgrade was partly due to recent insights from the International Association of Chiefs of Police event, which underscored the robustness of police tech budgets and Axon's competitive edge in AI solutions.
Shares of defense contractors, including Axon, experienced a decline in response to potential ceasefire reports between Israel and Lebanon's Hezbollah. These developments are recent, reflecting the dynamic nature of the market. It's important to note that while analysts' predictions can provide insight, they do not guarantee future performance.
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