Fmr LLC Has $47.94 Million Stake in Axos Financial, Inc. (NYSE:AX)

FMR LLC trimmed its stake in shares of Axos Financial, Inc. (NYSE:AX - Free Report) by 7.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 762,429 shares of the company's stock after selling 64,629 shares during the quarter. FMR LLC owned about 1.34% of Axos Financial worth $47,942,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kathleen S. Wright Associates Inc. bought a new position in Axos Financial in the 3rd quarter worth approximately $27,000. Hollencrest Capital Management bought a new position in Axos Financial during the 2nd quarter valued at $25,000. Farther Finance Advisors LLC boosted its stake in Axos Financial by 881.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 648 shares of the company's stock valued at $41,000 after purchasing an additional 582 shares in the last quarter. Ashton Thomas Securities LLC bought a new position in Axos Financial during the 3rd quarter valued at $41,000. Finally, 1620 Investment Advisors Inc. bought a new position in Axos Financial during the 2nd quarter valued at $49,000. 83.79% of the stock is currently owned by institutional investors and hedge funds.

Axos Financial Price Performance

Shares of AX traded up $0.75 during trading hours on Friday, hitting $80.85. 251,207 shares of the company were exchanged, compared to its average volume of 466,415. The company has a market capitalization of $4.62 billion, a PE ratio of 9.79 and a beta of 1.42. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.08 and a quick ratio of 1.08. The firm has a fifty day simple moving average of $72.42 and a 200-day simple moving average of $65.79. Axos Financial, Inc. has a one year low of $43.32 and a one year high of $88.46.

Axos Financial (NYSE:AX - Get Free Report) last released its earnings results on Wednesday, October 30th. The company reported $1.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 return on equity of 18.99% and a net margin of 24.07%. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, sell-side analysts predict that Axos Financial, Inc. will post 7.07 earnings per share for the current year.

Insider Activity

In related news, Director Edward James Ratinoff sold 4,002 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $79.41, for a total transaction of $317,798.82. Following the completion of the sale, the director now directly owns 46,209 shares in the company, valued at approximately $3,669,456.69. This trade represents a 7.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Gregory Garrabrants sold 125,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 1,340,377 shares of the company's stock, valued at approximately $109,763,472.53. This represents a 8.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 134,199 shares of company stock worth $10,882,135 over the last quarter. Corporate insiders own 5.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wedbush decreased their price target on Axos Financial from $80.00 to $75.00 and set a "neutral" rating for the company in a research note on Tuesday, September 24th. Keefe, Bruyette & Woods increased their price target on Axos Financial from $74.00 to $91.00 and gave the company a "market perform" rating in a research note on Wednesday. Needham & Company LLC increased their price target on Axos Financial from $82.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, StockNews.com raised Axos Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Axos Financial currently has a consensus rating of "Moderate Buy" and an average target price of $83.20.

About Axos Financial

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.