Axon Enterprise, Inc. (NASDAQ:AXON) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its stake in Axon Enterprise, Inc. (NASDAQ:AXON) by 5.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 128,476 shares of the biotechnology company’s stock after selling 7,826 shares during the period. Principal Financial Group Inc. owned about 0.17% of Axon Enterprise worth $76,356,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Strategic Advisors LLC purchased a new stake in Axon Enterprise in the fourth quarter valued at approximately $254,000. Spectrum Wealth Advisory Group LLC acquired a new stake in shares of Axon Enterprise in the fourth quarter valued at $267,000. J.W. Cole Advisors Inc. raised its holdings in shares of Axon Enterprise by 87.7% in the 4th quarter. J.W. Cole Advisors Inc. now owns 5,870 shares of the biotechnology company’s stock valued at $3,489,000 after buying an additional 2,742 shares during the period. Nkcfo LLC acquired a new position in Axon Enterprise during the 4th quarter worth about $166,000. Finally, J.P. Marvel Investment Advisors LLC purchased a new position in Axon Enterprise during the 4th quarter valued at about $6,485,000. 79.08% of the stock is currently owned by institutional investors and hedge funds.

Axon Enterprise Stock Performance

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

Insider Activity at Axon Enterprise

In other news, Director Caitlin Elizabeth Kalinowski sold 450 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $604.07, for a total value of $271,831.50. Following the completion of the sale, the director now directly owns 6,929 shares of the company’s stock, valued at approximately $4,185,601.03. The trade was a 6.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Julie A. Cullivan sold 1,261 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $682.06, for a total value of $860,077.66. Following the completion of the sale, the director now directly owns 2,392 shares of the company’s stock, valued at approximately $1,631,487.52. This trade represents a 34.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,711 shares of company stock valued at $5,631,561 in the last ninety days. Insiders own 5.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AXON. JMP Securities increased their price target on shares of Axon Enterprise from $610.00 to $725.00 and gave the stock a “market outperform” rating in a research report on Tuesday, February 4th. Robert W. Baird increased their target price on shares of Axon Enterprise from $600.00 to $800.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Northcoast Research cut shares of Axon Enterprise from a “buy” rating to a “neutral” rating in a research report on Wednesday. Morgan Stanley raised Axon Enterprise from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $500.00 to $700.00 in a research report on Tuesday, December 3rd. Finally, Northland Securities lifted their target price on Axon Enterprise from $365.00 to $550.00 and gave the company an “outperform” rating in a report on Monday, November 11th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $542.15.

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.