Principal Financial Group Inc. Sells 25,585 Shares of Axon Enterprise, Inc $AXON

Principal Financial Group Inc. lessened its position in Axon Enterprise, Inc (NASDAQ:AXON) by 22.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 86,931 shares of the biotechnology company’s stock after selling 25,585 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Axon Enterprise worth $62,385,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Stone House Investment Management LLC bought a new stake in shares of Axon Enterprise during the third quarter worth $29,000. Hemington Wealth Management lifted its holdings in shares of Axon Enterprise by 70.8% in the 2nd quarter. Hemington Wealth Management now owns 41 shares of the biotechnology company’s stock worth $33,000 after buying an additional 17 shares during the period. Whipplewood Advisors LLC lifted its holdings in shares of Axon Enterprise by 192.9% in the 2nd quarter. Whipplewood Advisors LLC now owns 41 shares of the biotechnology company’s stock worth $34,000 after buying an additional 27 shares during the period. Root Financial Partners LLC purchased a new position in shares of Axon Enterprise during the third quarter valued at $34,000. Finally, Darwin Wealth Management LLC bought a new stake in shares of Axon Enterprise in the second quarter valued at about $37,000. 79.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Axon Enterprise in a research report on Monday, December 29th. TD Cowen reissued a “buy” rating on shares of Axon Enterprise in a research note on Wednesday, November 5th. Wall Street Zen lowered Axon Enterprise from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Northcoast Research upgraded Axon Enterprise from a “neutral” rating to a “buy” rating and set a $742.00 price target on the stock in a report on Tuesday, January 6th. Finally, Royal Bank Of Canada initiated coverage on Axon Enterprise in a research report on Monday, November 17th. They issued an “outperform” rating and a $860.00 price target for the company. Fifteen investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $805.71.

Axon Enterprise Stock Performance

Shares of NASDAQ AXON opened at $451.29 on Wednesday. The company has a quick ratio of 2.89, a current ratio of 3.12 and a debt-to-equity ratio of 0.57. The firm’s 50-day moving average price is $575.49 and its two-hundred day moving average price is $664.42. Axon Enterprise, Inc has a 52-week low of $434.62 and a 52-week high of $885.91. The stock has a market capitalization of $35.61 billion, a P/E ratio of 142.81, a P/E/G ratio of 13.86 and a beta of 1.48.

Axon Enterprise (NASDAQ:AXON) last announced its quarterly earnings results on Wednesday, November 5th. The biotechnology company reported $1.17 earnings per share for the quarter, missing analysts’ consensus estimates of $1.63 by ($0.46). Axon Enterprise had a return on equity of 4.29% and a net margin of 10.05%.The company had revenue of $710.64 million for the quarter, compared to analyst estimates of $704.83 million. During the same quarter in the previous year, the company posted $1.45 earnings per share. The firm’s revenue for the quarter was up 30.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Axon Enterprise, Inc will post 5.8 earnings per share for the current year.

Insider Transactions at Axon Enterprise

In other Axon Enterprise news, CEO Patrick W. Smith sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $619.01, for a total value of $6,190,100.00. Following the sale, the chief executive officer directly owned 3,100,997 shares in the company, valued at approximately $1,919,548,152.97. This trade represents a 0.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeri Williams sold 100 shares of the business’s stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $550.63, for a total transaction of $55,063.00. Following the transaction, the director directly owned 1,316 shares of the company’s stock, valued at approximately $724,629.08. This trade represents a 7.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,540 shares of company stock valued at $34,684,738 over the last three months. 5.70% of the stock is currently owned by company insiders.

Axon Enterprise Profile

Axon Enterprise, Inc develops technology and weapons systems for public safety and law enforcement agencies, combining hardware, software and cloud services. The company’s hardware portfolio includes conducted energy weapons (commonly known as TASER devices), body-worn cameras and in-car camera systems. Axon pairs these devices with a suite of connected products and accessories designed to capture, store and manage field evidence.

Beyond hardware, Axon operates a subscription-based software platform for digital evidence management, evidence review and records management.