Arxis (NASDAQ:ARXS) Stock: Insider Ross Bradley Sealfon Sells 15,000 Shares

Arxis, Inc. (NASDAQ:ARXS) insider Ross Bradley Sealfon sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 11th. The shares were sold at an average price of $52.23, for a total value of $783,450.00. Following the completion of the sale, the insider owned 1,087,807 shares of the company’s stock, valued at approximately $56,816,159.61. This trade represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Arxis Price Performance

NASDAQ:ARXS traded down $0.48 during trading hours on Friday, reaching $53.31. 682,613 shares of the company were exchanged, compared to its average volume of 1,020,011. The business has a 50 day moving average of $50.99 and a 200 day moving average of $46.54. Arxis, Inc. has a 1-year low of $33.15 and a 1-year high of $61.50. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.70 and a quick ratio of 3.27. The company has a market capitalization of $22.96 billion and a P/E ratio of 136.69.

Hedge Funds Weigh In On Arxis

A number of institutional investors have recently modified their holdings of ARXS. State of Alaska Department of Revenue acquired a new stake in Arxis in the third quarter valued at about $157,000. The Manufacturers Life Insurance Company acquired a new position in Arxis during the second quarter worth about $207,000. Third View Private Wealth LLC bought a new position in shares of Arxis in the third quarter worth about $264,000. Amundi acquired a new stake in shares of Arxis in the 2nd quarter valued at approximately $358,000. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Arxis by 22.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 19,133 shares of the company’s stock valued at $945,000 after purchasing an additional 3,521 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on ARXS shares. Morgan Stanley increased their target price on Arxis from $62.00 to $66.00 and gave the stock an “overweight” rating in a report on Friday, October 30th. Jefferies Financial Group reaffirmed a “buy” rating and set a $60.00 price objective on shares of Arxis in a research report on Sunday, August 2nd. Weiss Ratings upgraded shares of Arxis from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, November 2nd. Royal Bank Of Canada boosted their target price on shares of Arxis from $60.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, October 30th. Finally, Wells Fargo & Company upped their price target on shares of Arxis from $52.00 to $63.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Eleven equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.36.

Arxis Company Profile

Arxis, Inc. is a manufacturer and supplier of engineered products for the aerospace and defense industries. Its components and systems are designed for use in aircraft and other demanding applications. The company serves customers that require specialized, performance-critical products. Publicly available information about its specific product lines, operating history, geographic reach and leadership is limited.