Zevenbergen Capital Dumps 19K Axon Shares Worth $14.5 Million

Zevenbergen Capital Investments sold 19,102 Axon Enterprise shares, worth an estimated $14.5 million, based on the average price during the quarter. After the transaction, the fund's stake in Axon shares it holds with sole discretion stood at 255,839 shares, worth $184 million. Zevenbergen's total Axon position decreased from 6.3% of assets under management in the prior quarter to 5.2% following the sale.

Zevenbergen Capital Investments recently reported a significant reduction in its Axon Enterprise (AXON) holdings, selling 19,102 shares worth an estimated $14.5 million based on the average price during the quarter. This sale, detailed in the fund's latest SEC filing for the period ended September 30, 2025, has resulted in a notable change in the fund's Axon position.

Prior to the sale, Zevenbergen's stake in Axon shares it holds with sole discretion stood at 255,839 shares, valued at approximately $184 million. This transaction has led to a decrease in the fund's total Axon position from 6.3% of assets under management (AUM) in the prior quarter to 5.2% following the sale Zevenbergen Dumps 19K Axon Shares Worth $14.5 Million^[2]. The sale of 19,102 shares, valued at $14.5 million, represents a strategic move by the fund to trim its Axon holdings.

This reduction in the Axon position comes amidst a strong performance by the stock, which has seen a 72% increase in price over the past year, outperforming the S&P 500 by 55 percentage points Axon Enterprise (AXON) Exceeds^[3]. The fund's decision to sell its Axon shares could be seen as a strategic move to take profits from the stock's recent run-up, which has seen it grow at a compound annual growth rate (CAGR) of 33% in revenue and 43% in future contracted bookings over the past five reported quarters Zevenbergen Dumps 19K Axon Shares Worth $14.5 Million^[2].

The sale also reflects a broader trend within Zevenbergen's portfolio, as the fund has trimmed nine of its top 10 largest positions in recent quarters Zevenbergen Dumps 19K Axon Shares Worth $14.5 Million^[2]. This suggests a cautious approach by the fund management, aiming to diversify its holdings and manage risk.

The stock's valuation remains high, with a Forward P/E ratio of 103.48, significantly above the industry average of 35.31 Axon Enterprise (AXON) Exceeds^[3]. Despite this, the stock's expected earnings growth rate, as reflected in its PEG ratio of 3.62, suggests that investors are optimistic about the company's future prospects.

In summary, Zevenbergen Capital Investments' sale of 19,102 Axon shares represents a strategic move to take profits from the stock's recent strong performance and to manage risk within the fund's portfolio. The sale also reflects a broader trend of portfolio diversification and risk management by the fund.