Sei Investments Co. Buys 13,698 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Sei Investments Co. grew its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 33.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,993 shares of the company’s stock after acquiring an additional 13,698 shares during the quarter. Sei Investments Co.’s holdings in Affirm were worth $1,661,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AFRM. Raleigh Capital Management Inc. bought a new position in Affirm during the fourth quarter worth about $33,000. Ridgewood Investments LLC acquired a new position in shares of Affirm in the 2nd quarter valued at approximately $27,000. Global Wealth Strategies & Associates increased its stake in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares in the last quarter. Finally, ORG Partners LLC raised its holdings in Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on AFRM. JMP Securities assumed coverage on shares of Affirm in a research report on Friday, June 28th. They set a “market perform” rating for the company. Barclays increased their target price on Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Bank of America increased their price objective on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $42.00 target price on shares of Affirm in a research note on Monday, June 24th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $35.53.

Affirm Price Performance

NASDAQ:AFRM opened at $39.36 on Friday. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm Holdings, Inc. has a 12-month low of $15.97 and a 12-month high of $52.48. The stock’s 50 day moving average price is $35.29 and its two-hundred day moving average price is $33.08. The firm has a market capitalization of $12.17 billion, a price-to-earnings ratio of -17.65 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The business had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. On average, analysts anticipate that Affirm Holdings, Inc. will post -0.82 earnings per share for the current year.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 112,075 shares of company stock valued at $4,803,786 in the last three months. 13.05% of the stock is currently owned by company insiders.

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.