Dynamic Technology Lab Private Ltd Purchases New Holdings in Axos Financial, Inc $AX

Dynamic Technology Lab Private Ltd purchased a new position in shares of Axos Financial, Inc (NYSE:AX) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,130 shares of the company’s stock, valued at approximately $688,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Salomon & Ludwin LLC bought a new stake in shares of Axos Financial during the 3rd quarter valued at $26,000. Bessemer Group Inc. grew its holdings in shares of Axos Financial by 59.6% during 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. EverSource Wealth Advisors LLC increased its position in shares of Axos Financial by 294.7% in the second quarter. EverSource Wealth Advisors LLC now owns 446 shares of the company’s stock worth $34,000 after purchasing an additional 333 shares during the period. Root Financial Partners LLC bought a new position in shares of Axos Financial in the third quarter worth $40,000. Finally, Bayforest Capital Ltd acquired a new position in Axos Financial in the third quarter valued at about $76,000. Institutional investors own 83.79% of the company’s stock.

Axos Financial Stock Performance

Axos Financial stock opened at $85.58 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.40. The stock has a market cap of $4.85 billion, a PE ratio of 10.85 and a beta of 1.27. Axos Financial, Inc has a 12-month low of $54.46 and a 12-month high of $101.92. The business’s 50-day moving average price is $93.28 and its two-hundred day moving average price is $87.66.

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

Insider Buying and Selling

In related news, EVP Derrick Walsh sold 4,846 shares of the company’s stock in a transaction that occurred on Friday, February 6th. The shares were sold at an average price of $101.21, for a total transaction of $490,463.66. Following the completion of the transaction, the executive vice president directly owned 37,936 shares in the company, valued at $3,839,502.56. This represents a 11.33% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gregory Garrabrants sold 43,294 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $99.10, for a total transaction of $4,290,435.40. Following the completion of the sale, the chief executive officer owned 1,418,751 shares in the company, valued at $140,598,224.10. This represents a 2.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 59,303 shares of company stock worth $5,908,474 in the last three months. 4.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on AX. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Axos Financial in a research report on Monday, December 29th. Needham & Company LLC restated a “buy” rating and issued a $110.00 target price on shares of Axos Financial in a research report on Friday, February 13th. DA Davidson upped their price target 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. Jefferies Financial Group increased their price target on shares of Axos Financial from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Keefe, Bruyette & Woods lifted their price objective 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. One 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $104.50.

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.