Stifel Financial Corp Takes Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Stifel Financial Corp acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,575 shares of the company’s stock, valued at approximately $228,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AFRM. KBC Group NV increased its stake in shares of Affirm by 3.6% during the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc increased its position in Affirm by 3.2% during the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after buying an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. Myecfo LLC raised its holdings in Affirm by 5.0% during the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after buying an additional 589 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after buying an additional 671 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AFRM. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. Bank of America lifted their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JMP Securities raised shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price objective for the company in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their target price on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, six have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus price target of $60.94.

Insider Transactions at Affirm

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,300,851 shares of company stock valued at $84,875,518 in the last three months. 12.41% of the stock is owned by corporate insiders.

Affirm Price Performance

Shares of Affirm stock opened at $64.64 on Monday. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $73.34. The firm has a market cap of $20.30 billion, a P/E ratio of -45.52 and a beta of 3.66. The firm’s 50-day simple moving average is $59.34 and its 200-day simple moving average is $43.18. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

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

About Affirm

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.