Principal Financial Group Inc. Sells 12,179 Shares of Axonics, Inc. (NASDAQ:AXNX)

Principal Financial Group Inc. trimmed its holdings in Axonics, Inc. (NASDAQ:AXNX) by 32.2% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,648 shares of the company’s stock after selling 12,179 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of Axonics worth $1,785,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Headlands Technologies LLC increased its holdings in shares of Axonics by 162.1% in the second quarter. Headlands Technologies LLC now owns 2,928 shares of the company’s stock worth $197,000 after purchasing an additional 1,811 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Axonics in the 1st quarter worth approximately $218,000. Xponance Inc. raised its holdings in shares of Axonics by 7.5% during the 2nd quarter. Xponance Inc. now owns 3,231 shares of the company’s stock worth $217,000 after acquiring an additional 225 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Axonics by 12.7% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 6,981 shares of the company’s stock valued at $469,000 after acquiring an additional 785 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Axonics by 379.6% in the second quarter. SG Americas Securities LLC now owns 8,321 shares of the company’s stock valued at $559,000 after purchasing an additional 6,586 shares in the last quarter. 99.48% of the stock is owned by hedge funds and other institutional investors.

Axonics Price Performance

Shares of AXNX stock opened at $70.98 on Friday. The stock’s 50-day moving average is $70.04 and its 200 day moving average is $68.68. Axonics, Inc. has a 1-year low of $55.09 and a 1-year high of $71.05. The company has a market cap of $3.63 billion, a P/E ratio of -591.45 and a beta of 0.82.

Insiders Place Their Bets

In other Axonics news, CFO Kari Leigh Keese sold 2,961 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $69.41, for a total value of $205,523.01. Following the completion of the sale, the chief financial officer now owns 40,362 shares of the company’s stock, valued at approximately $2,801,526.42. This trade represents a 6.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “hold” rating on shares of Axonics in a research report on Friday, November 8th. Eight equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Axonics currently has a consensus rating of “Hold” and a consensus price target of $71.00.

About Axonics

Axonics, Inc, a medical technology company, engages in the development and commercialization of novel products for the treatment of bladder and bowel dysfunction. Its sacral neuromodulation (SNM) systems are used to treat patients with overactive bladder (OAB), including urinary urge incontinence and urinary urgency frequency, as well as fecal incontinence (FI) and non-obstructive urinary retention (UR); and rechargeable (R20) and recharge-free (F15) implantable SNM systems that delivers mild electrical pulses to the targeted sacral nerve to restore normal communication to and from the brain to reduce the symptoms of OAB, UR, and FI.