Principal Financial Group Inc. Boosts Holdings in Axon Enterprise, Inc. (NASDAQ:AXON)

Principal Financial Group Inc. raised its holdings in Axon Enterprise, Inc. (NASDAQ:AXON - Free Report) by 33.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,302 shares of the biotechnology company's stock after buying 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 SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AXON. Quent Capital LLC raised its stake in Axon Enterprise by 1,875.0% during the 3rd quarter. Quent Capital LLC now owns 79 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 75 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Axon Enterprise by 115.8% in 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. boosted its position in shares of Axon Enterprise by 987.5% in the 2nd quarter. Blue Trust Inc. now owns 87 shares of the biotechnology company's stock valued at $27,000 after purchasing an additional 79 shares during the period. Brooklyn Investment Group purchased a new position in Axon Enterprise during the 3rd quarter worth approximately $41,000. Finally, Planning Capital Management Corp increased its position in Axon Enterprise by 83.3% during the third quarter. Planning Capital Management Corp now owns 121 shares of the biotechnology company's stock worth $48,000 after buying an additional 55 shares during the period. 79.08% of the stock is owned by institutional investors and hedge funds.

Axon Enterprise Price Performance

Shares of NASDAQ:AXON traded down $3.55 during midday trading on Monday, hitting $628.14. 271,678 shares of the stock were exchanged, compared to its average volume of 613,318. Axon Enterprise, Inc. has a twelve month low of $241.72 and a twelve month high of $698.67. The company has a current ratio of 2.96, a quick ratio of 2.63 and a debt-to-equity ratio of 0.32. The company has a 50 day moving average price of $559.49 and a 200-day moving average price of $418.57. The stock has a market cap of $47.90 billion, a P/E ratio of 162.31, a PEG ratio of 14.19 and a beta of 1.01.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on AXON. Needham & Company LLC raised their price objective on shares of Axon Enterprise from $525.00 to $600.00 and gave the stock a "buy" rating in a research report on Friday, November 8th. Morgan Stanley raised Axon Enterprise from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $500.00 to $700.00 in a report on Tuesday, December 3rd. Robert W. Baird boosted their price target on Axon Enterprise from $600.00 to $800.00 and gave the company an "outperform" rating in a research report on Friday, December 6th. JMP Securities boosted their target price on Axon Enterprise from $430.00 to $500.00 and gave the company a "market outperform" rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on Axon Enterprise from $385.00 to $441.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Axon Enterprise presently has a consensus rating of "Moderate Buy" and an average target price of $488.67.

Insider Buying and Selling at Axon Enterprise

In related news, Director Julie A. Cullivan sold 1,261 shares of Axon Enterprise stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $682.06, for a total transaction of $860,077.66. Following the completion of the sale, the director now owns 2,392 shares in the company, valued at approximately $1,631,487.52. This trade represents a 34.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Patrick W. Smith sold 47,314 shares of the business'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 $1,193,729,666.14. The trade was a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 102,251 shares of company stock worth $51,140,606. 6.10% of the stock is 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.