Axos Financial, Inc $AX Shares Sold by Edgestream Partners L.P.

Key Points

• Edgestream Partners sharply reduced its Axos Financial stake by 91.5% in the first quarter, selling 138,295 shares and retaining 12,835 shares worth approximately $1.09 million.
• Institutional investors and hedge funds own 83.79% of Axos Financial, while company insiders own 4.85%; two executives also reported stock sales in May.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $114.83. Axos shares recently traded at $103.58, near their 12-month high of $105.20.

Edgestream Partners L.P. reduced its stake in shares of Axos Financial, Inc (NYSE:AX - Free Report) by 91.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,835 shares of the company's stock after selling 138,295 shares during the quarter. Edgestream Partners L.P.'s holdings in Axos Financial were worth $1,092,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp grew its stake in shares of Axos Financial by 0.5% during the 4th quarter. State Street Corp now owns 2,696,323 shares of the company's stock worth $232,315,000 after purchasing an additional 13,669 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Axos Financial by 0.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,003 shares of the company's stock valued at $185,234,000 after purchasing an additional 7,509 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Axos Financial by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 1,775,539 shares of the company's stock valued at $154,687,000 after purchasing an additional 62,269 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Axos Financial by 8.6% in the 2nd quarter. Ameriprise Financial Inc. now owns 740,652 shares of the company's stock valued at $56,319,000 after purchasing an additional 58,774 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Axos Financial by 7.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 721,572 shares of the company's stock valued at $62,171,000 after purchasing an additional 52,250 shares during the period. 83.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Axos Financial

In other news, EVP Michael James Watson sold 1,653 shares of the firm's stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $83.77, for a total value of $138,471.81. Following the transaction, the executive vice president owned 4,592 shares in the company, valued at $384,671.84. This trade represents a 26.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Roque A. Santi sold 500 shares of the business's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $87.77, for a total value of $43,885.00. Following the sale, the director owned 7,646 shares of the company's stock, valued at $671,089.42. The trade was a 6.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.85% of the company's stock.

Analyst Ratings Changes

AX has been the topic of several analyst reports. DA Davidson set a $121.00 price target on shares of Axos Financial in a research report on Friday. Benchmark assumed coverage on shares of Axos Financial in a research report on Wednesday, July 8th. They issued a "buy" rating and a $115.00 price objective for the company. Raymond James Financial upgraded shares of Axos Financial from an "outperform" rating to a "strong-buy" rating and decreased their price objective for the stock from $110.00 to $100.00 in a research report on Tuesday, April 7th. Zacks Research lowered shares of Axos Financial from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 8th. Finally, Needham & Company LLC raised their target price on Axos Financial from $110.00 to $128.00 and gave the company a "buy" rating in a research report on Friday. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $114.83.

Axos Financial Trading Up 2.1%

AX stock opened at $103.58 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.24. Axos Financial, Inc has a 12-month low of $74.89 and a 12-month high of $105.20. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 12.23 and a beta of 1.22. The business's 50-day moving average is $93.75 and its 200 day moving average is $91.94.

Axos Financial 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.

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