Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Sold by Rakuten Securities Inc.

Rakuten Securities Inc. cut its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 45.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,741 shares of the company’s stock after selling 2,284 shares during the quarter. Rakuten Securities Inc.’s holdings in Affirm were worth $124,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empowered Funds LLC acquired a new stake in shares of Affirm in the 4th quarter worth $538,000. Vontobel Holding Ltd. purchased a new position in Affirm during the fourth quarter worth about $208,000. Rhumbline Advisers lifted its position in Affirm by 10.8% in the fourth quarter. Rhumbline Advisers now owns 249,451 shares of the company’s stock valued at $15,192,000 after purchasing an additional 24,286 shares during the period. CIBC Asset Management Inc lifted its position in Affirm by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 7,942 shares of the company’s stock valued at $484,000 after purchasing an additional 422 shares during the period. Finally, Truist Financial Corp acquired a new position in Affirm during the 4th quarter worth approximately $212,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 16,089 shares of the stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the transaction, the director now directly owns 29,343 shares in the company, valued at approximately $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the sale, the director now owns 36,497 shares of the company’s stock, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,677 shares of company stock worth $1,703,245 over the last quarter. 11.82% of the stock is currently owned by insiders.

Affirm Trading Down 1.6%

Affirm stock opened at $59.90 on Wednesday. The stock has a 50-day moving average price of $50.85 and a 200 day moving average price of $56.68. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The stock has a market cap of $19.32 billion, a PE ratio of -285.24, a P/E/G ratio of 125.29 and a beta of 3.58. 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 quarterly earnings results on Thursday, May 8th. The company reported $0.01 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 net margin of 2.07% and a negative return on equity of 2.22%. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) earnings per share. Equities research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Seaport Res Ptn raised Affirm to a “hold” rating in a report on Monday, March 24th. Stephens started coverage on Affirm in a report on Thursday, June 12th. They issued an “equal weight” rating and a $69.00 target price for the company. Barclays restated an “overweight” rating and set a $67.00 target price (up from $53.00) on shares of Affirm in a research report on Monday, June 9th. Morgan Stanley cut their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, The Goldman Sachs Group boosted their price objective on shares of Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Nine equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.05.

Affirm Company 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.