Verition Fund Management 13F: Cuts AXON Stake by $1M

Verition Fund Management lowered its stake in Axon Enterprise, Inc. (NASDAQ: AXON) by 8.06% during the most recent reporting period. According to its latest 13F filing with the SEC, the fund sold 1,843 shares of the public safety technology company. At the end of the period, Verition held 21,033 shares with a market value of roughly $11.79 million. These filings are backward-looking and show what a fund held on a specific date, so they don't necessarily reflect where Verition stands today.

Verition Adjusts Its Position

Before this latest reduction, Verition Fund Management held 22,876 shares of the Scottsdale-based company. The 8.06% decrease in its position follows a mix of activity from other large institutional investors. While Verition was trimming, other funds were moving in different directions. For example, on May 15, 2026, Zurcher Kantonalbank boosted its Axon holdings by 5.5%, adding 2,839 shares. Conversely, BNP Paribas trimmed its stake by 15.6% just one day earlier, on May 14, 2026, still leaving it with a large block of 184,412 shares.

Axon Stock Performance and Valuation

Axon shares were trading at $560.61 on Tuesday. The stock has been on a steady climb, staying comfortably above its 50-day moving average of $505.34 and its 200-day moving average of $489.57. Over the last year, the stock has traded as low as $339.01 and as high as $764.02. With a price-to-earnings (P/E) ratio of 173.11, the company is trading at a high multiple of its current earnings, though its forward P/E ratio is lower at 39.57, suggesting investors expect earnings to grow in the coming year.

Growth Driven by Software and Services

In its most recent financial reports, Axon showed revenue of $3.22 billion with a revenue growth rate of 35.3%. The company maintains a net margin of 6.19% and a return on equity of 6.22%. Much of this growth is coming from its Software and Services segment, which includes the Axon Evidence cloud platform. The company's next earnings report is expected on November 3, 2026. Axon does not currently pay a dividend, as it typically reinvests its cash back into developing new hardware and software.

Analysts Set New Price Targets

Wall Street analysts have been active in updating their views on Axon. On September 3, 2026, Argus Research maintained a Buy rating and raised its price target from $460.00 to $600.00. Earlier in the summer, on August 6, 2026, Piper Sandler maintained an Overweight rating and lifted its target to $732.00, while Needham set an even higher target of $750.00 on July 6, 2026. The consensus among 19 analysts is currently a Buy, with an average price target of $690.68.

About Axon Enterprise

Axon Enterprise is best known for its Taser conducted energy devices, but the company has transformed itself into a broader technology provider for police and first responders. It now focuses heavily on body cameras and cloud-based software that helps law enforcement agencies manage digital evidence and records. This shift toward a subscription-based software model has helped the company grow its revenue and attract more attention from institutional funds like Verition.

What's Ahead for Axon Enterprise, Inc.

Investors will likely keep a close eye on Axon's upcoming earnings in November to see if the company can maintain its double-digit revenue growth. While Verition's recent sale represents a small portion of its total holdings, the broader trend among institutional investors has been mixed. Because 13F filings are delayed by several weeks, these reports provide a snapshot of past sentiment rather than a real-time look at current fund strategy.