Principal Financial Group Inc. Has $54.47 Million Stock Position in Axon Enterprise, Inc. (NASDAQ:AXON)

Principal Financial Group Inc. lifted its position in shares of Axon Enterprise, Inc. (NASDAQ:AXON) by 33.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,302 shares of the biotechnology company’s stock after purchasing an additional 33,869 shares during the period. Principal Financial Group Inc. owned about 0.18% of Axon Enterprise worth $54,466,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Brass Tax Wealth Management Inc. acquired a new stake in Axon Enterprise during the 3rd quarter valued at approximately $240,000. Oddo BHF Asset Management Sas bought a new stake in shares of Axon Enterprise during the third quarter valued at approximately $1,522,000. Denver PWM LLC raised its holdings in Axon Enterprise by 69.7% during the third quarter. Denver PWM LLC now owns 414 shares of the biotechnology company’s stock worth $165,000 after buying an additional 170 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Axon Enterprise by 13.8% in the 3rd quarter. Tidal Investments LLC now owns 3,250 shares of the biotechnology company’s stock worth $1,299,000 after acquiring an additional 394 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Axon Enterprise in the third quarter worth approximately $759,000. 79.08% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Patrick W. Smith sold 47,314 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $400.07, for a total transaction of $18,928,911.98. Following the completion of the transaction, the chief executive officer now directly owns 2,983,802 shares of the company’s stock, valued at approximately $1,193,729,666.14. This represents a 1.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Michael Garnreiter sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total value of $437,980.00. Following the completion of the sale, the director now owns 26,259 shares of the company’s stock, valued at approximately $11,500,916.82. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,251 shares of company stock valued at $51,140,606. 6.10% of the stock is currently owned by insiders.

Axon Enterprise Price Performance

Shares of Axon Enterprise stock opened at $631.69 on Monday. The stock has a market capitalization of $48.17 billion, a price-to-earnings ratio of 163.23, a price-to-earnings-growth ratio of 14.19 and a beta of 1.01. The company has a fifty day moving average of $559.49 and a 200-day moving average of $417.62. Axon Enterprise, Inc. has a 52-week low of $241.72 and a 52-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.

Wall Street Analysts Forecast Growth

AXON has been the topic of a number of recent analyst reports. Northland Securities raised their price target on shares of Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, November 11th. Morgan Stanley upgraded Axon Enterprise from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $500.00 to $700.00 in a research note on Tuesday, December 3rd. Needham & Company LLC lifted their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Robert W. Baird lifted their target price on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, JMP Securities upped their price target on shares of Axon Enterprise from $430.00 to $500.00 and gave the stock a “market outperform” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $488.67.

About Axon Enterprise

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.