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

Private Advisor Group LLC decreased its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 40.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,557 shares of the company’s stock after selling 3,792 shares during the period. Private Advisor Group LLC’s holdings in Affirm were worth $251,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of AFRM. Durable Capital Partners LP boosted its holdings in shares of Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Capital International Investors acquired a new stake in shares of Affirm during the fourth quarter worth $100,030,000. Foxhaven Asset Management LP acquired a new stake in shares of Affirm during the fourth quarter worth $80,917,000. Voloridge Investment Management LLC acquired a new stake in shares of Affirm during the fourth quarter worth $76,738,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Affirm during the first quarter worth $45,133,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

AFRM has been the subject of several research analyst reports. Barclays upped their price target on Affirm from $67.00 to $80.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. TD Cowen initiated coverage on Affirm in a research note on Tuesday, April 8th. They set a “buy” rating and a $50.00 price objective on the stock. UBS Group reduced their price objective on Affirm from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. Rothschild & Co Redburn initiated coverage on Affirm in a research note on Friday. They set a “neutral” rating and a $74.00 price objective on the stock. Finally, Susquehanna boosted their price objective on Affirm from $65.00 to $76.00 and gave the stock a “positive” rating in a research note on Wednesday, July 23rd. Ten research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $68.09.

Insider Transactions at Affirm

In other news, insider Katherine Adkins sold 57,102 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $70.27, for a total transaction of $4,012,557.54. Following the completion of the transaction, the insider directly owned 112,467 shares of the company’s stock, valued at approximately $7,903,056.09. This represents a 33.67% 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, CFO Robert O’hare sold 19,802 shares of the company’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total value of $1,386,734.06. The disclosure for this sale can be found here. Insiders sold 80,158 shares of company stock valued at $5,602,284 in the last three months. Corporate insiders own 11.82% of the company’s stock.

Affirm Stock Down 3.1%

Shares of Affirm stock opened at $66.41 on Friday. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The firm has a market cap of $21.42 billion, a P/E ratio of -316.24, a P/E/G ratio of 2.54 and a beta of 3.63. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The business has a 50-day moving average price of $63.23 and a 200 day moving average price of $57.12.

Affirm (NASDAQ:AFRM) last announced 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. The firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. Affirm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.43) earnings per share. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

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.