Gregory Garrabrants Sells 43,294 Shares of Axos Financial (NYSE:AX) Stock

Axos Financial, Inc (NYSE:AX) CEO Gregory Garrabrants sold 43,294 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total value of $4,290,435.40. Following the completion of the sale, the chief executive officer directly owned 1,418,751 shares in the company, valued at approximately $140,598,224.10. The trade was a 2.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Axos Financial Price Performance

AX traded up $2.98 during midday trading on Friday, hitting $101.24. The stock had a trading volume of 510,973 shares, compared to its average volume of 412,471. Axos Financial, Inc has a 1 year low of $54.46 and a 1 year high of $101.70. The company has a market cap of $5.74 billion, a P/E ratio of 12.83 and a beta of 1.27. The business has a fifty day moving average of $89.90 and a 200 day moving average of $86.47. 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 released its earnings results on Thursday, January 29th. The company reported $2.25 EPS for the quarter, beating the consensus estimate of $2.07 by $0.18. Axos Financial had a net margin of 22.66% and a return on equity of 16.98%. The company had revenue of $385.09 million for the quarter, compared to analyst estimates of $345.89 million. During the same quarter last year, the firm earned $1.82 EPS. The firm’s quarterly revenue was up 25.1% compared to the same quarter last year. As a group, equities analysts forecast that Axos Financial, Inc will post 7.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

AX has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Axos Financial in a report on Monday, December 29th. Needham & Company LLC lifted their price target on shares of Axos Financial from $107.00 to $110.00 and gave the company a “buy” rating in a report on Friday, January 30th. Jefferies Financial Group upped their price objective on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Keefe, Bruyette & Woods lifted their target price on shares of Axos Financial from $100.00 to $110.00 and gave the company a “market perform” rating in a research note on Friday, January 30th. Finally, Zacks Research upgraded shares of Axos Financial from a “hold” rating to a “strong-buy” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $104.50.

Hedge Funds Weigh In On Axos Financial

Several large investors have recently modified their holdings of the stock. Salomon & Ludwin LLC purchased a new stake in shares of Axos Financial during the third quarter valued at approximately $26,000. Brown Brothers Harriman & Co. purchased a new stake in Axos Financial during the 3rd quarter valued at $29,000. Bessemer Group Inc. increased its holdings in shares of Axos Financial by 59.6% in the 3rd quarter. Bessemer Group Inc. now owns 348 shares of the company’s stock worth $29,000 after purchasing an additional 130 shares in the last quarter. Torren Management LLC purchased a new position in shares of Axos Financial in the fourth quarter worth $36,000. Finally, True Wealth Design LLC lifted its holdings in shares of Axos Financial by 120.9% during the second quarter. True Wealth Design LLC now owns 433 shares of the company’s stock valued at $33,000 after purchasing an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 83.79% of the company’s stock.

Axos Financial Company Profile

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.