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

Principal Financial Group Inc. raised its stake in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 33.1% in the third quarter, according to 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 acquiring an additional 33,869 shares during the quarter. Principal Financial Group Inc. owned approximately 0.18% of Axon Enterprise worth $54,466,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Axon Enterprise by 2.7% during the first quarter. Vanguard Group Inc. now owns 8,143,306 shares of the biotechnology company's stock worth $2,547,878,000 after purchasing an additional 212,401 shares during the last quarter. Motley Fool Asset Management LLC increased its position in Axon Enterprise by 238.7% in the 1st quarter. Motley Fool Asset Management LLC now owns 492,140 shares of the biotechnology company's stock valued at $153,981,000 after acquiring an additional 346,838 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Axon Enterprise by 44.0% during the second quarter. 1832 Asset Management L.P. now owns 375,700 shares of the biotechnology company's stock valued at $110,546,000 after acquiring an additional 114,800 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Axon Enterprise by 13.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 368,732 shares of the biotechnology company's stock worth $108,496,000 after purchasing an additional 45,049 shares during the period. Finally, Thrivent Financial for Lutherans grew its stake in shares of Axon Enterprise by 1.6% in the second quarter. Thrivent Financial for Lutherans now owns 270,430 shares of the biotechnology company's stock worth $79,571,000 after purchasing an additional 4,365 shares during the last quarter. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Up 2.1 %

Axon Enterprise stock traded up $12.96 during midday trading on Monday, reaching $616.14. The stock had a trading volume of 1,792,866 shares, compared to its average volume of 544,227. The company has a fifty day moving average price of $419.18 and a two-hundred day moving average price of $349.77. The company has a market capitalization of $46.56 billion, a P/E ratio of 159.21, a PEG ratio of 15.15 and a beta of 0.94. The company has a current ratio of 2.88, a quick ratio of 2.52 and a debt-to-equity ratio of 0.35. Axon Enterprise, Inc. has a 12 month low of $216.73 and a 12 month high of $624.84.

Analyst Upgrades and Downgrades

Several brokerages have commented on AXON. Bank of America began coverage on Axon Enterprise in a report on Wednesday, July 17th. They set a "buy" rating and a $380.00 target price on the stock. JMP Securities lifted their price objective on Axon Enterprise from $430.00 to $500.00 and gave the stock a "market outperform" rating in a research note on Thursday, October 31st. Robert W. Baird increased their target price on shares of Axon Enterprise from $440.00 to $460.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. Needham & Company LLC boosted their price target on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Barclays increased their price objective on shares of Axon Enterprise from $381.00 to $387.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $427.83.

Insider Buying and Selling

In related news, Director Michael Garnreiter sold 1,000 shares of Axon Enterprise stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now owns 26,259 shares of the company's stock, valued at $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Michael Garnreiter sold 1,000 shares of the business's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $437.98, for a total transaction of $437,980.00. Following the transaction, the director now directly owns 26,259 shares in the company, valued at approximately $11,500,916.82. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Patrick W. Smith sold 80,300 shares of the business's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $371.78, for a total value of $29,853,934.00. Following the completion of the transaction, the chief executive officer now owns 3,015,366 shares in the company, valued at $1,121,052,771.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 369,172 shares of company stock worth $136,270,842 in the last quarter. Insiders own 6.10% of the company's stock.

Axon Enterprise Company 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.