Pacific Heights Asset Management LLC Acquires 5,000 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Pacific Heights Asset Management LLC increased its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 320,000 shares of the company’s stock after acquiring an additional 5,000 shares during the period. Pacific Heights Asset Management LLC owned approximately 0.10% of Affirm worth $14,461,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Truist Financial Corp bought a new position in Affirm during the fourth quarter valued at $212,000. Bank of New York Mellon Corp boosted its stake in shares of Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock worth $53,902,000 after purchasing an additional 5,169 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Affirm by 59.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company’s stock valued at $114,000 after purchasing an additional 700 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Affirm by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock worth $138,368,000 after purchasing an additional 68,848 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in Affirm by 106.3% in the fourth quarter. Victory Capital Management Inc. now owns 65,819 shares of the company’s stock worth $4,008,000 after purchasing an additional 33,907 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on 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 directly owned 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,089 shares of the stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total value of $820,539.00. Following the transaction, the director owned 29,343 shares of the company’s stock, valued at approximately $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,343 shares of company stock valued at $1,023,531 in the last 90 days. 11.82% of the stock is currently owned by insiders.

Affirm Stock Up 1.0%

Shares of Affirm stock opened at $69.04 on Friday. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The company has a 50 day moving average of $56.36 and a 200 day moving average of $56.42. The company has a market capitalization of $22.27 billion, a P/E ratio of -328.74, a P/E/G ratio of 2.48 and a beta of 3.63. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55.

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group upped 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. Morgan Stanley lowered their price objective on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Evercore ISI started coverage on shares of Affirm in a research report on Wednesday, April 9th. They set an “outperform” rating and a $50.00 target price on the stock. Stephens assumed coverage on shares of Affirm in a research report on Thursday, June 12th. They issued an “equal weight” rating and a $69.00 price target for the company. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $69.00 price objective on shares of Affirm in a research note on Thursday, March 20th. Nine research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.67.

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.