Zevenbergen Capital Investments sold 19,102 Axon Enterprise shares, totaling $14.49 million in its latest SEC filing. The fund’s Axon position decreased to 255,839 shares worth $184 million, equivalent to 5.2% of assets under management. Axon’s shares were priced at $734.01 on October 9, 2025, up 72% in the past year.

Axon Enterprise develops and sells conducted energy devices, body cameras, and evidence management software for law enforcement. The company generates revenue from hardware sales, software subscriptions, and cloud-based services for public safety agencies. Customers include law enforcement organizations in the US and internationally.

Zevenbergen’s sale of Axon shares represents 0.3% of its assets under management, reducing Axon to the fifth-largest position in its portfolio. The fund also trimmed 9 of its top 10 largest positions, possibly to take gains in an overheated market. Axon’s stock has seen a 45% increase in the past six months.

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Read more at Nasdaq: Zevenbergen Dumps 19K Axon Shares Worth $14.5 Million