Amalgamated Bank Reduces Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Amalgamated Bank lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,061 shares of the company’s stock after selling 521 shares during the period. Amalgamated Bank’s holdings in Affirm were worth $492,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC acquired a new position in shares of Affirm in the 2nd quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm during the third quarter worth about $29,000. Allspring Global Investments Holdings LLC boosted its position in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the last quarter. ORG Partners LLC increased its holdings in Affirm by 80.0% in 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. Finally, Plato Investment Management Ltd raised its position in Affirm by 255.1% during the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after buying an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several recent research reports. Barclays upped their price objective on shares of Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Tuesday, October 8th. Mizuho restated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research note on Tuesday, August 27th. JPMorgan Chase & Co. lifted their price target on Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group upped their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.03.

Affirm Trading Up 5.5 %

Shares of AFRM stock opened at $56.15 on Friday. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $59.27. The firm has a market capitalization of $17.47 billion, a P/E ratio of -39.54 and a beta of 3.47. The stock’s fifty day moving average is $44.49 and its two-hundred day moving average is $35.69. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the previous year, the business posted ($0.57) earnings per share. Research analysts expect that Affirm Holdings, Inc. will post -0.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the 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 trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 403,738 shares of company stock worth $21,115,878. 12.41% of the stock is owned by corporate 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.