Covestor Ltd Has $115,000 Stake in Axos Financial, Inc. (NYSE:AX)

Covestor Ltd reduced its stake in Axos Financial, Inc. (NYSE:AX) by 10.9% during the third quarter, HoldingsChannel reports. The firm owned 1,832 shares of the company’s stock after selling 224 shares during the quarter. Covestor Ltd’s holdings in Axos Financial were worth $115,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in AX. American Century Companies Inc. grew its holdings in shares of Axos Financial by 26.2% during the second quarter. American Century Companies Inc. now owns 1,549,748 shares of the company’s stock worth $88,568,000 after purchasing an additional 321,494 shares during the last quarter. Emerald Advisers LLC grew its holdings in Axos Financial by 14.4% during the 3rd quarter. Emerald Advisers LLC now owns 505,544 shares of the company’s stock worth $31,789,000 after acquiring an additional 63,458 shares during the last quarter. Emerald Mutual Fund Advisers Trust increased its position in Axos Financial by 10.5% in the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 422,460 shares of the company’s stock valued at $26,564,000 after acquiring an additional 40,184 shares during the period. Millennium Management LLC raised its stake in shares of Axos Financial by 107.9% during the second quarter. Millennium Management LLC now owns 367,251 shares of the company’s stock valued at $20,988,000 after acquiring an additional 190,584 shares during the last quarter. Finally, Stieven Capital Advisors L.P. lifted its holdings in shares of Axos Financial by 1.4% during the second quarter. Stieven Capital Advisors L.P. now owns 328,433 shares of the company’s stock worth $18,770,000 after purchasing an additional 4,400 shares during the period. 83.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AX shares. Piper Sandler raised their target price on Axos Financial from $68.00 to $84.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods raised their price objective on Axos Financial from $72.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, November 1st. StockNews.com cut Axos Financial from a “hold” rating to a “sell” rating in a report on Wednesday. Raymond James raised their price target on shares of Axos Financial from $67.00 to $81.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Wedbush dropped their price target on shares of Axos Financial from $80.00 to $75.00 and set a “neutral” rating on the stock in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $79.80.

Axos Financial Trading Down 0.5 %

Shares of AX stock opened at $83.59 on Wednesday. Axos Financial, Inc. has a fifty-two week low of $32.05 and a fifty-two week high of $85.13. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a 50 day simple moving average of $66.09 and a two-hundred day simple moving average of $62.93. The company has a market cap of $4.77 billion, a P/E ratio of 10.12 and a beta of 1.38.

Axos Financial (NYSE:AX) last released its quarterly earnings data on Wednesday, October 30th. The company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.80 by $0.16. The company had revenue of $512.87 million during the quarter, compared to analyst estimates of $299.59 million. Axos Financial had a net margin of 24.07% and a return on equity of 18.99%. During the same quarter in the previous year, the business posted $1.41 EPS. Research analysts forecast that Axos Financial, Inc. will post 7.02 earnings per share for the current year.

Insider Activity

In other news, CEO Gregory Garrabrants sold 125,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total value of $10,236,250.00. Following the completion of the sale, the chief executive officer now directly owns 1,340,377 shares in the company, valued at $109,763,472.53. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Axos Financial news, EVP Andrew J. Micheletti sold 5,197 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $63.13, for a total value of $328,086.61. Following the transaction, the executive vice president now directly owns 424,149 shares of the company’s stock, valued at approximately $26,776,526.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gregory Garrabrants sold 125,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $81.89, for a total transaction of $10,236,250.00. Following the sale, the chief executive officer now directly owns 1,340,377 shares of the company’s stock, valued at approximately $109,763,472.53. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.07% of the company’s stock.

Axos Financial Company Profile

Axos Financial, Inc, together with its subsidiaries, provides consumer and business banking products in the United States. It operates through two segments, Banking Business and Securities Business. The company offers deposits products, including consumer and business checking, demand, savings, time deposit, money market, zero balance, and insured cash sweep accounts.