Daiwa Securities Group Inc. Cuts Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Daiwa Securities Group Inc. decreased its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 43.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,355 shares of the company’s stock after selling 3,370 shares during the period. Daiwa Securities Group Inc.’s holdings in Affirm were worth $178,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Algert Global LLC raised its holdings in shares of Affirm by 1.7% during the third quarter. Algert Global LLC now owns 156,939 shares of the company’s stock valued at $6,406,000 after purchasing an additional 2,687 shares during the last quarter. Biltmore Family Office LLC bought a new stake in Affirm in the 3rd quarter worth approximately $253,000. Charles Schwab Investment Management Inc. raised its stake in Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Affirm by 19.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 251,713 shares of the company’s stock worth $10,275,000 after buying an additional 40,254 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other Affirm news, President Libor Michalek sold 100,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the sale, the president now owns 159,449 shares in the company, valued at $9,885,838. This trade represents a 38.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock worth $52,186,668 over the last quarter. Insiders own 12.41% of the company’s stock.

Affirm Stock Up 2.4 %

Shares of AFRM opened at $70.01 on Monday. The business’s 50 day simple moving average is $49.29 and its 200-day simple moving average is $37.98. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $70.88. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The stock has a market capitalization of $21.99 billion, a price-to-earnings ratio of -49.30 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the prior year, the company earned ($0.57) EPS. As a group, equities analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Barclays upped their price target on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Finally, BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $52.53.

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.