Mission Wealth Management LP Grows Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Mission Wealth Management LP boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 4.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,303 shares of the company’s stock after purchasing an additional 803 shares during the period. Mission Wealth Management LP’s holdings in Affirm were worth $917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of AFRM. Truist Financial Corp bought a new position in Affirm during the 4th quarter worth about $212,000. Ameriprise Financial Inc. increased its stake in Affirm by 2.6% during the 4th quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company’s stock valued at $8,887,000 after purchasing an additional 3,672 shares in the last quarter. Steward Partners Investment Advisory LLC increased its position in shares of Affirm by 59.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company’s stock valued at $114,000 after acquiring an additional 700 shares during the period. Deutsche Bank AG raised its stake in shares of Affirm by 2.6% in the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company’s stock worth $1,973,000 after purchasing an additional 817 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Affirm during the 4th quarter worth approximately $14,591,000. 69.29% of the stock is owned by institutional investors.

Affirm Stock Down 1.6%

NASDAQ:AFRM opened at $59.90 on Wednesday. The business’s fifty day moving average price is $50.85 and its 200 day moving average price is $56.68. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $19.32 billion, a price-to-earnings ratio of -285.24, a PEG ratio of 125.29 and a beta of 3.58. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm’s revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.43) EPS. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Compass Point upgraded Affirm from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $61.00 to $64.00 in a research report on Wednesday, March 19th. JMP Securities cut their price objective on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday, May 9th. Wells Fargo & Company cut their target price on Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Finally, Morgan Stanley reduced their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $65.05.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the sale, the director now owns 36,497 shares of the company’s stock, valued at $2,221,207.42. This represents a 6.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total transaction of $730,556.08. Following the completion of the transaction, the director now directly owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. This represents a 26.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,677 shares of company stock valued at $1,703,245 in the last three months. 11.82% of the stock is owned by corporate insiders.

Affirm Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.