Commonwealth Equity Services LLC Boosts Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Commonwealth Equity Services LLC boosted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,548 shares of the company’s stock after buying an additional 680 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Affirm were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Affirm during the 4th quarter worth $67,310,000. Coldstream Capital Management Inc. purchased a new stake in Affirm during the fourth quarter worth about $207,000. Corient Private Wealth LLC acquired a new position in Affirm during the fourth quarter worth about $620,000. Holistic Financial Partners acquired a new position in shares of Affirm in the fourth quarter valued at approximately $281,000. Finally, Treasurer of the State of North Carolina raised its position in shares of Affirm by 4.5% in the fourth quarter. Treasurer of the State of North Carolina now owns 99,856 shares of the company’s stock valued at $4,907,000 after buying an additional 4,320 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Stock Performance

NASDAQ:AFRM opened at $44.93 on Monday. Affirm Holdings, Inc. has a twelve month low of $15.97 and a twelve month high of $52.48. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The company has a 50-day moving average of $33.02 and a 200-day moving average of $32.72. The firm has a market cap of $13.89 billion, a price-to-earnings ratio of -20.15 and a beta of 3.51.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The business had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Analysts forecast that Affirm Holdings, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Rabois sold 9,275 shares of the stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the sale, the insider now owns 122,069 shares in the company, valued at $5,493,105. The disclosure for this sale can be found here. In the last 90 days, insiders sold 121,351 shares of company stock worth $5,081,045. 13.05% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JMP Securities assumed coverage on shares of Affirm in a research report on Friday, June 28th. They set a “market perform” rating for the company. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Barclays upped their target price on shares of Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Susquehanna started coverage on shares of Affirm in a report on Friday. They issued a “positive” rating and a $52.00 price target on the stock. Finally, BTIG Research initiated coverage on shares of Affirm in a report on Friday, June 7th. They set a “neutral” rating on the stock. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus target price of $35.31.

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.