Principal Financial Group Inc. Lowers Stake in Axon Enterprise, Inc. (NASDAQ:AXON)

Principal Financial Group Inc. trimmed its holdings in Axon Enterprise, Inc. (NASDAQ:AXON) by 5.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 128,476 shares of the biotechnology company’s stock after selling 7,826 shares during the period. Principal Financial Group Inc.’s holdings in Axon Enterprise were worth $76,356,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in AXON. Geode Capital Management LLC raised its stake in Axon Enterprise by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,782,828 shares of the biotechnology company’s stock valued at $710,103,000 after acquiring an additional 35,320 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in shares of Axon Enterprise by 12.2% in the third quarter. Westfield Capital Management Co. LP now owns 1,175,328 shares of the biotechnology company’s stock valued at $469,661,000 after purchasing an additional 127,769 shares during the period. Champlain Investment Partners LLC raised its stake in shares of Axon Enterprise by 13.9% during the third quarter. Champlain Investment Partners LLC now owns 682,420 shares of the biotechnology company’s stock worth $272,695,000 after purchasing an additional 83,265 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Axon Enterprise by 1.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 561,263 shares of the biotechnology company’s stock worth $224,281,000 after purchasing an additional 9,090 shares during the period. Finally, Groupama Asset Managment purchased a new position in Axon Enterprise in the 3rd quarter valued at $200,000. Institutional investors and hedge funds own 79.08% of the company’s stock.

Wall Street Analysts Forecast Growth

AXON has been the subject of several recent analyst reports. JMP Securities raised their target price on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research note on Tuesday, February 4th. Robert W. Baird lifted their price objective on Axon Enterprise from $600.00 to $800.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Needham & Company LLC increased their target price on Axon Enterprise from $525.00 to $600.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Northcoast Research cut Axon Enterprise from a “buy” rating to a “neutral” rating in a report on Wednesday. Finally, Northland Securities upped their price objective on Axon Enterprise from $365.00 to $550.00 and gave the stock an “outperform” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Axon Enterprise has a consensus rating of “Moderate Buy” and a consensus target price of $542.15.

Insiders Place Their Bets

In other Axon Enterprise news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total transaction of $271,831.50. Following the completion of the transaction, the director now owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. This trade represents a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey C. Kunins sold 1,035 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $624.47, for a total value of $646,326.45. Following the completion of the sale, the insider now owns 124,243 shares in the company, valued at $77,586,026.21. This represents a 0.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 8,711 shares of company stock worth $5,631,561. Insiders own 5.70% of the company’s stock.

Axon Enterprise Price Performance

Axon Enterprise stock opened at $593.42 on Thursday. The firm has a market capitalization of $45.25 billion, a PE ratio of 153.34, a P/E/G ratio of 6.85 and a beta of 1.05. Axon Enterprise, Inc. has a 52 week low of $260.27 and a 52 week high of $715.99. The firm’s 50-day simple moving average is $624.50 and its 200 day simple moving average is $515.36. The company has a quick ratio of 2.63, a current ratio of 2.96 and a debt-to-equity ratio of 0.32.

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.