Axon Enterprise, Inc. (AXON) shares are down 0.72% to $626.72 as of 11:30 am on Friday, compared to its previous close of $631.27 on November 21st. The decline comes amid reports of significant reductions in holdings by major institutional investors. Notably, Eagle Asset Management Inc. decreased its position in Axon by 19.9% during the third quarter, selling 90,323 shares, while Primecap Management Co. CA reduced its holdings by 16.5%, selling 15,100 shares. Additionally, Telemark Asset Management LLC trimmed its stake by 40%, selling 20,000 shares. These moves by institutional investors may be contributing to the downward pressure on Axon's stock price.