Rhumbline Advisers Raises Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Rhumbline Advisers raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 249,451 shares of the company’s stock after purchasing an additional 24,286 shares during the period. Rhumbline Advisers owned approximately 0.08% of Affirm worth $15,192,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Spyglass Capital Management LLC boosted its stake in Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after buying an additional 672,883 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of Affirm by 2.1% in the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock worth $46,908,000 after buying an additional 15,517 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after buying an additional 528,400 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of Affirm in the 3rd quarter worth $27,872,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the transaction, the director now owns 77,608 shares in the company, valued at $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now owns 137,325 shares of the company’s stock, valued at $10,986,000. This trade represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 754,482 shares of company stock worth $52,297,805. Corporate insiders own 12.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AFRM shares. Morgan Stanley raised their price target on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. UBS Group raised their target price on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Friday, February 7th. Mizuho raised their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Bank of America raised their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Affirm Trading Down 8.1 %

Shares of AFRM stock opened at $68.55 on Friday. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock’s 50-day moving average price is $64.62 and its 200-day moving average price is $52.87. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of -105.46 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Equities research analysts predict that Affirm Holdings, Inc. will post -0.18 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.