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

Principal Financial Group Inc. lessened its stake in Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 120,290 shares of the biotechnology company's stock after selling 8,186 shares during the quarter. Principal Financial Group Inc. owned 0.15% of Axon Enterprise worth $63,267,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in AXON. Teacher Retirement System of Texas grew its stake in Axon Enterprise by 1,475.1% in the 1st quarter. Teacher Retirement System of Texas now owns 10,585 shares of the biotechnology company's stock valued at $5,567,000 after acquiring an additional 9,913 shares during the last quarter. First Horizon Advisors Inc. grew its stake in Axon Enterprise by 8.2% in the 1st quarter. First Horizon Advisors Inc. now owns 620 shares of the biotechnology company's stock valued at $326,000 after acquiring an additional 47 shares during the last quarter. Defender Capital LLC. grew its stake in Axon Enterprise by 6.3% in the 1st quarter. Defender Capital LLC. now owns 41,529 shares of the biotechnology company's stock valued at $21,661,000 after acquiring an additional 2,444 shares during the last quarter. WCM Investment Management LLC boosted its stake in shares of Axon Enterprise by 0.8% during the 1st quarter. WCM Investment Management LLC now owns 2,441 shares of the biotechnology company's stock worth $1,306,000 after purchasing an additional 19 shares during the last quarter. Finally, DAVENPORT & Co LLC boosted its stake in shares of Axon Enterprise by 5.1% during the 1st quarter. DAVENPORT & Co LLC now owns 940 shares of the biotechnology company's stock worth $494,000 after purchasing an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 79.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on AXON shares. The Goldman Sachs Group raised their target price on shares of Axon Enterprise from $730.00 to $830.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Craig Hallum lowered shares of Axon Enterprise from a "buy" rating to a "cautious" rating in a report on Monday, March 10th. Bank of America raised their price target on shares of Axon Enterprise from $750.00 to $895.00 and gave the company a "buy" rating in a report on Wednesday, June 4th. Needham & Company LLC raised their price target on shares of Axon Enterprise from $600.00 to $750.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Finally, Barclays raised their price target on shares of Axon Enterprise from $726.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Axon Enterprise presently has an average rating of "Moderate Buy" and an average price target of $699.55.

Axon Enterprise Stock Up 2.7%

Shares of AXON traded up $20.93 during mid-day trading on Friday, reaching $795.48. 268,670 shares of the stock traded hands, compared to its average volume of 540,118. The firm has a market cap of $61.93 billion, a price-to-earnings ratio of 192.14, a P/E/G ratio of 91.57 and a beta of 1.29. The stock has a fifty day simple moving average of $736.97 and a 200 day simple moving average of $635.97. Axon Enterprise, Inc has a 12-month low of $279.02 and a 12-month high of $830.21. The company has a quick ratio of 2.62, a current ratio of 2.83 and a debt-to-equity ratio of 0.68.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The biotechnology company reported $1.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.34 by $0.07. The company had revenue of $603.63 million for the quarter, compared to analyst estimates of $585.67 million. Axon Enterprise had a net margin of 14.86% and a return on equity of 5.81%. The business's quarterly revenue was up 31.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.15 earnings per share. Sell-side analysts expect that Axon Enterprise, Inc will post 5.8 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Jennifer H. Mak sold 75 shares of Axon Enterprise stock in a transaction on Friday, June 13th. The shares were sold at an average price of $771.81, for a total value of $57,885.75. Following the completion of the sale, the chief accounting officer owned 15,240 shares in the company, valued at approximately $11,762,384.40. The trade was a 0.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael Garnreiter sold 5,913 shares of Axon Enterprise stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $760.00, for a total transaction of $4,493,880.00. Following the completion of the sale, the director owned 17,740 shares of the company's stock, valued at approximately $13,482,400. This trade represents a 25.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,642 shares of company stock valued at $30,500,428. 4.40% of the stock is owned by 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.