Van ECK Associates Corp Decreases Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Van ECK Associates Corp reduced its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 20.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,084 shares of the company’s stock after selling 1,048 shares during the quarter. Van ECK Associates Corp’s holdings in Affirm were worth $249,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in AFRM. Geneos Wealth Management Inc. increased its stake in Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the last quarter. R Squared Ltd bought a new position in Affirm during the 4th quarter worth approximately $33,000. Advisors Asset Management Inc. raised its position 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 worth $44,000 after purchasing an additional 671 shares during the period. Venturi Wealth Management LLC raised its position in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during the period. Finally, Valley National Advisers Inc. acquired a new stake in Affirm in the 4th quarter valued at approximately $61,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AFRM has been the topic of several analyst reports. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating on the stock. UBS Group increased their price objective on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their target price on Affirm from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, February 10th. Barclays lifted their price objective on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, JPMorgan Chase & Co. lifted their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.24.

Affirm Stock Performance

Shares of Affirm stock opened at $68.55 on Monday. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The stock has a market capitalization of $21.80 billion, a price-to-earnings ratio of -105.46 and a beta of 3.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm has a fifty day moving average of $64.62 and a two-hundred day moving average of $53.08.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other Affirm news, CFO Robert O’hare sold 13,965 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $68.57, for a total value of $957,580.05. Following the sale, the chief financial officer now owns 668 shares in the company, valued at $45,804.76. This trade represents a 95.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction 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 sale, the director now directly owns 77,608 shares in the company, valued at approximately $4,665,792.96. This represents a 17.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 579,111 shares of company stock worth $40,020,081 in the last quarter. Corporate insiders own 12.41% 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.