Principal Financial Group Inc. Increases Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Principal Financial Group Inc. lifted its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 33.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,302 shares of the biotechnology company’s stock after purchasing an additional 33,869 shares during the quarter. Principal Financial Group Inc.’s holdings in Axon Enterprise were worth $54,466,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Quent Capital LLC grew its holdings in shares of Axon Enterprise by 1,875.0% during the third quarter. Quent Capital LLC now owns 79 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 75 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Axon Enterprise by 115.8% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 82 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 44 shares during the last quarter. Blue Trust Inc. raised its position in Axon Enterprise by 987.5% in the second quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 79 shares during the period. Brooklyn Investment Group bought a new position in Axon Enterprise in the 3rd quarter worth $41,000. Finally, Planning Capital Management Corp lifted its position in shares of Axon Enterprise by 83.3% during the 3rd quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 55 shares in the last quarter. 79.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on AXON shares. The Goldman Sachs Group lifted their target price on shares of Axon Enterprise from $385.00 to $441.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. JMP Securities increased their target price on Axon Enterprise from $430.00 to $500.00 and gave the company a “market outperform” rating in a research report on Thursday, October 31st. Robert W. Baird lifted their price target on Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Northland Securities lifted their price objective on shares of Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, November 11th. Finally, Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $500.00 to $700.00 in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $488.67.

Axon Enterprise Price Performance

Shares of AXON opened at $631.69 on Monday. The stock has a market capitalization of $48.17 billion, a PE ratio of 163.23, a PEG ratio of 14.19 and a beta of 1.01. Axon Enterprise, Inc. has a fifty-two week low of $241.72 and a fifty-two week high of $698.67. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.63 and a current ratio of 2.96. The company has a 50 day moving average price of $559.49 and a 200-day moving average price of $417.62.

Insider Buying and Selling at Axon Enterprise

In related news, CEO Patrick W. Smith sold 47,314 shares of Axon Enterprise stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the completion of the sale, the chief executive officer now owns 2,983,802 shares of the company’s stock, valued at $1,193,729,666.14. The trade was a 1.56 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Jeri Williams sold 110 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $400.00, for a total transaction of $44,000.00. Following the sale, the director now directly owns 1,934 shares in the company, valued at $773,600. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,251 shares of company stock valued at $51,140,606. 6.10% of the stock is currently owned by corporate insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops, manufactures, and sells conducted energy devices (CEDs) under the TASER brand in the United States and internationally. It operates through two segments, Software and Sensors, and TASER. The company also offers hardware and cloud-based software solutions that enable law enforcement to capture, securely store, manage, share, and analyze video and other digital evidence.