Raymond James Financial Inc. Takes Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Raymond James Financial Inc. acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 239,594 shares of the company’s stock, valued at approximately $14,591,000. Raymond James Financial Inc. owned approximately 0.08% of Affirm as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in AFRM. Geneos Wealth Management Inc. increased its position in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Affirm during the 4th quarter worth about $33,000. Advisors Asset Management Inc. increased 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 in the last quarter. Valley National Advisers Inc. acquired a new stake in shares of Affirm during the 4th quarter worth about $61,000. Finally, Bogart Wealth LLC acquired a new stake in shares of Affirm during the 4th quarter worth about $61,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Price Performance

NASDAQ AFRM opened at $43.70 on Wednesday. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a market capitalization of $13.90 billion, a PE ratio of -67.23 and a beta of 3.63. The firm’s 50 day moving average is $61.22 and its 200-day moving average is $56.00.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the transaction, the director now directly owns 61,520 shares in the company, valued at approximately $3,935,434.40. The trade was a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert O’hare sold 6,541 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now owns 2,963 shares in the company, valued at approximately $184,535.64. The trade was a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,801 shares of company stock worth $3,806,093 over the last ninety days. Insiders own 12.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on AFRM shares. Barclays increased their price objective on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Bank of America increased their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Morgan Stanley increased their price objective on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. JMP Securities increased their price objective on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.24.

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.