PNC Financial Services Group Inc. Cuts Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

PNC Financial Services Group Inc. trimmed its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 39.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,646 shares of the company’s stock after selling 18,732 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Affirm were worth $1,408,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AFRM. Planned Solutions Inc. acquired a new stake in shares of Affirm in the fourth quarter valued at about $25,000. Creative Financial Designs Inc. ADV grew its position in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. acquired a new stake in shares of Affirm in the fourth quarter valued at about $33,000. Principal Securities Inc. acquired a new stake in shares of Affirm in the fourth quarter valued at about $49,000. Finally, Lindbrook Capital LLC grew its position in shares of Affirm by 117.9% in the fourth quarter. Lindbrook Capital LLC now owns 1,386 shares of the company’s stock valued at $68,000 after purchasing an additional 750 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

Shares of AFRM stock opened at $29.87 on Friday. The firm’s 50-day moving average is $31.71 and its two-hundred day moving average is $37.37. The company has a market capitalization of $9.23 billion, a PE ratio of -13.39 and a beta of 3.47. Affirm Holdings, Inc. has a 12 month low of $12.81 and a 12 month high of $52.48. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. The business had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The business’s revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.69) EPS. Analysts predict that Affirm Holdings, Inc. will post -1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BTIG Research assumed coverage on shares of Affirm in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Mizuho restated a “buy” rating and set a $65.00 price target on shares of Affirm in a research report on Thursday. Royal Bank of Canada restated a “sector perform” rating and set a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. Finally, JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $41.00 to $43.00 in a research report on Thursday, May 9th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $31.28.

Insider Activity

In other news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the sale, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 13.05% of the company’s stock.

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.