Principal Financial Group Inc. Purchases 82,765 Shares of Axon Enterprise, Inc $AXON

Key Points

• Principal Financial Group nearly doubled its Axon Enterprise stake, purchasing 82,765 shares in the second quarter to hold 172,566 shares valued at approximately $96.7 million. Institutional investors collectively own 79.08% of the company.
• Axon reported strong operating momentum, with quarterly revenue rising 35.3% year over year to $904.4 million and adjusted EPS of $1.88, beating analyst estimates. The company also raised its full-year 2026 revenue-growth outlook to 32%–34%.
• Despite positive growth and analyst sentiment—Axon carries a consensus “Moderate Buy” rating—concerns remain over its very high valuation, declining net income and EPS, margin pressure, and recent insider selling.

Principal Financial Group Inc. raised its position in shares of Axon Enterprise, Inc (NASDAQ:AXON - Free Report) by 92.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,566 shares of the biotechnology company's stock after buying an additional 82,765 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Axon Enterprise worth $96,742,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in AXON. Rockefeller Capital Management L.P. boosted its position in shares of Axon Enterprise by 53.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 11,518 shares of the biotechnology company's stock valued at $6,542,000 after acquiring an additional 4,002 shares during the last quarter. Legal & General Group Plc increased its position in Axon Enterprise by 1.3% in the fourth quarter. Legal & General Group Plc now owns 426,533 shares of the biotechnology company's stock worth $242,241,000 after purchasing an additional 5,419 shares during the last quarter. Eurizon Capital SGR S.p.A. bought a new stake in Axon Enterprise in the fourth quarter worth $13,116,000. Arrowstreet Capital Limited Partnership purchased a new stake in Axon Enterprise during the first quarter valued at $15,067,000. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in Axon Enterprise by 40.7% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 15,083 shares of the biotechnology company's stock valued at $6,406,000 after purchasing an additional 4,360 shares in the last quarter. Institutional investors own 79.08% of the company's stock.

Axon Enterprise Stock Performance

NASDAQ:AXON opened at $612.83 on Friday. The stock's fifty day moving average is $526.06 and its 200 day moving average is $474.40. Axon Enterprise, Inc has a fifty-two week low of $339.01 and a fifty-two week high of $794.29. The firm has a market capitalization of $49.78 billion, a PE ratio of 254.29, a PEG ratio of 12.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.80 and a current ratio of 2.15.

Axon Enterprise (NASDAQ:AXON - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The biotechnology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Axon Enterprise had a net margin of 6.19% and a return on equity of 2.84%. The company had revenue of $904.39 million during the quarter, compared to analyst estimates of $876.42 million. During the same period in the previous year, the firm earned $2.12 earnings per share. Axon Enterprise's quarterly revenue was up 35.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Axon Enterprise, Inc will post 1.63 earnings per share for the current year.

Key Headlines Impacting Axon Enterprise

Here are the key news stories impacting Axon Enterprise this week:

• Positive Sentiment: Axon raised its full-year 2026 revenue-growth outlook to 32%–34%, supported by approximately $15.1 billion in future contracted bookings and strong momentum in connected devices, AI-enabled software and counter-drone offerings. Second-quarter revenue increased 35.3% year over year to $904.4 million and exceeded analyst expectations. Axon Enterprise Is Up 17.8% After Raising 2026 Revenue Outlook
• Positive Sentiment: Northland Securities raised its FY2027 EPS forecast to $6.49 from $5.53. The firm also increased estimates for Q1, Q2, Q3 and Q4 2027, suggesting stronger expected earnings momentum beyond 2026.
• Positive Sentiment: The company’s second-quarter adjusted earnings and revenue surpassed Wall Street expectations, while management highlighted broad demand for Axon’s public-safety technology ecosystem. The 5 Most Interesting Analyst Questions From Axon’s Q2 Earnings Call
• Neutral Sentiment: Northland reduced its FY2026 EPS estimate to $3.12 from $3.26 and lowered its Q4 2026 forecast to $1.29 from $1.55, partly offsetting the more optimistic 2027 outlook.
• Negative Sentiment: Despite strong sales, quarterly net income fell to $29.4 million from $36.1 million a year earlier, and diluted EPS declined to $0.36 from $0.44. Investors remain concerned about margins, elevated costs, debt and Axon’s very high valuation. Should You Buy, Hold or Sell AXON Stock Post Q2 Earnings Release?
• Negative Sentiment: Recent insider selling has added pressure and increased investor caution around the stock’s valuation. Axon Enterprise Trading Down Following Insider Selling

Insider Transactions at Axon Enterprise

In related news, President Joshua Isner sold 13,000 shares of the stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $488.45, for a total value of $6,349,850.00. Following the sale, the president directly owned 169,125 shares of the company's stock, valued at $82,609,106.25. This represents a 7.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CRO Cameron Brooks sold 1,242 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $500.00, for a total transaction of $621,000.00. Following the completion of the sale, the executive directly owned 49,710 shares of the company's stock, valued at approximately $24,855,000. The trade was a 2.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 68,989 shares of company stock worth $36,016,932. 4.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley lifted their price objective on shares of Axon Enterprise from $600.00 to $640.00 and gave the stock an "overweight" rating in a research note on Thursday, August 6th. Weiss Ratings restated a "hold (c-)" rating on shares of Axon Enterprise in a research report on Wednesday, August 5th. UBS Group increased their price target on shares of Axon Enterprise from $440.00 to $600.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Needham & Company LLC reaffirmed a "buy" rating on shares of Axon Enterprise in a report on Thursday, August 6th. Finally, Piper Sandler lifted their price target on Axon Enterprise from $724.00 to $732.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Axon Enterprise has an average rating of "Moderate Buy" and a consensus target price of $730.92.

About Axon Enterprise

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source