Private Advisor Group LLC Cuts Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Private Advisor Group LLC decreased its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 40.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,557 shares of the company’s stock after selling 3,792 shares during the quarter. Private Advisor Group LLC’s holdings in Affirm were worth $251,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Allworth Financial LP boosted its position in shares of Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 219 shares in the last quarter. Amalgamated Bank boosted its position in shares of Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock worth $622,000 after acquiring an additional 280 shares in the last quarter. M&T Bank Corp boosted its position in shares of Affirm by 1.9% during the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company’s stock worth $968,000 after acquiring an additional 389 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Affirm by 10.0% during the 1st quarter. GAMMA Investing LLC now owns 4,596 shares of the company’s stock worth $208,000 after acquiring an additional 419 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Affirm during the 4th quarter worth about $28,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on AFRM shares. Truist Financial upped their price objective on Affirm from $58.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft started coverage on Affirm in a research report on Thursday, July 17th. They set a “buy” rating and a $78.00 price objective for the company. Morgan Stanley lowered their price objective on Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Bank of America upped their target price on Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Finally, Evercore ISI assumed coverage on Affirm in a research report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 target price for the company. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and an average price target of $68.09.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 754 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total transaction of $50,842.22. Following the completion of the transaction, the director directly owned 137,241 shares of the company’s stock, valued at approximately $9,254,160.63. This represents a 0.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the transaction, the director directly owned 36,497 shares of the company’s stock, valued at approximately $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,158 shares of company stock valued at $5,602,284. Corporate insiders own 11.82% of the company’s stock.

Affirm Stock Down 3.1%

Affirm stock opened at $66.41 on Friday. The stock has a market capitalization of $21.42 billion, a price-to-earnings ratio of -316.24, a PEG ratio of 2.54 and a beta of 3.63. The stock has a 50 day moving average of $63.23 and a two-hundred day moving average of $57.12. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The business 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 company’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the prior year, the business posted ($0.43) EPS. As a group, research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

About Affirm

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.