Insider Selling: Axos Financial (NYSE:AX) CEO Sells 43,294 Shares of Stock

Axos Financial, Inc (NYSE:AX) CEO Gregory Garrabrants sold 43,294 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the transaction, the chief executive officer owned 1,418,751 shares in the company, valued at $140,598,224.10. This represents a 2.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Axos Financial Stock Performance

Shares of AX traded up $2.98 during mid-day trading on Friday, hitting $101.24. 510,973 shares of the company traded hands, compared to its average volume of 412,471. The stock has a market cap of $5.74 billion, a price-to-earnings ratio of 12.83 and a beta of 1.27. The stock has a 50-day moving average price of $89.90 and a two-hundred day moving average price of $86.47. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $101.70. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.08 and a current ratio of 1.08.

Axos Financial (NYSE:AX) last posted its earnings results on Thursday, January 29th. The company reported $2.25 EPS for the quarter, topping analysts’ consensus estimates of $2.07 by $0.18. The business had revenue of $385.09 million during the quarter, compared to the consensus estimate of $345.89 million. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The firm’s revenue was up 25.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.82 EPS. Equities analysts anticipate that Axos Financial, Inc will post 7.22 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Salomon & Ludwin LLC purchased a new stake in Axos Financial in the 3rd quarter worth $26,000. Bessemer Group Inc. boosted its stake in shares of Axos Financial by 59.6% in the third quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after acquiring an additional 130 shares during the period. Brown Brothers Harriman & Co. purchased a new stake in shares of Axos Financial during the third quarter worth about $29,000. True Wealth Design LLC raised its stake in Axos Financial by 120.9% during the 2nd quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after purchasing an additional 237 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in Axos Financial by 294.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares in the last quarter. Institutional investors own 83.79% of the company’s stock.

Analysts Set New Price Targets

AX has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Zacks Research raised shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. Needham & Company LLC increased their price target on shares of Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. DA Davidson boosted their price objective on shares of Axos Financial from $107.50 to $112.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Jefferies Financial Group raised their target price on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Axos Financial has an average rating of “Buy” and an average price target of $104.50.

About Axos Financial

Axos Financial, Inc (NYSE: AX) is a diversified online banking and financial services holding company headquartered in San Diego, California. The firm traces its origins to 1999 with the launch of Bank of Internet USA and rebranded as Axos Financial in December 2018 to reflect an expanded suite of digital offerings. Axos Financial operates through its wholly owned subsidiary, Axos Bank, providing a technology-driven banking platform that serves both retail and commercial clients across the United States.

Through its digital banking platform, Axos Financial delivers a range of deposit products, including checking and savings accounts, money market and certificate of deposit accounts, as well as individual retirement accounts.