Axos Financial (NYSE:AX) CEO Sells $4,290,435.40 in Stock

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

Axos Financial Stock Performance

AX stock opened at $101.24 on Monday. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.08 and a quick ratio of 1.08. The business has a 50-day moving average price of $90.28 and a 200 day moving average price of $86.60. The company has a market capitalization of $5.74 billion, a P/E ratio of 12.83 and a beta of 1.27. Axos Financial, Inc has a 1-year low of $54.46 and a 1-year high of $101.70.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Needham & Company LLC upped their target price on Axos Financial from $107.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods boosted their price target on Axos Financial from $100.00 to $110.00 and gave the stock a “market perform” rating in a research report on Friday, January 30th. Jefferies Financial Group upped their price objective on Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Zacks Research upgraded Axos Financial from a “hold” rating to a “strong-buy” rating in a research note on Monday, February 2nd. Finally, DA Davidson boosted their target price on shares of Axos Financial from $107.50 to $112.00 and gave the stock a “buy” rating in a report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $104.50.

Institutional Investors Weigh In On Axos Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stieven Capital Advisors L.P. boosted its holdings in Axos Financial by 8.0% in the fourth quarter. Stieven Capital Advisors L.P. now owns 255,859 shares of the company’s stock worth $22,045,000 after acquiring an additional 18,900 shares in the last quarter. Global Retirement Partners LLC raised its position in shares of Axos Financial by 524.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,529 shares of the company’s stock valued at $132,000 after purchasing an additional 1,284 shares during the last quarter. Csenge Advisory Group raised its position in shares of Axos Financial by 28.4% in the 4th quarter. Csenge Advisory Group now owns 20,549 shares of the company’s stock valued at $1,771,000 after purchasing an additional 4,550 shares during the last quarter. ProShare Advisors LLC boosted its stake in Axos Financial by 3.1% in the 4th quarter. ProShare Advisors LLC now owns 10,607 shares of the company’s stock worth $914,000 after purchasing an additional 319 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew its position in Axos Financial by 2.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 13,004 shares of the company’s stock worth $1,120,000 after purchasing an additional 300 shares during the last quarter. 83.79% of the stock is currently owned by hedge funds and other institutional investors.

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.