Myecfo LLC Raises Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Myecfo LLC grew its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 24.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,995 shares of the company’s stock after purchasing an additional 2,144 shares during the period. Myecfo LLC’s holdings in Affirm were worth $410,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Planned Solutions Inc. purchased a new stake in shares of Affirm during the fourth quarter worth approximately $25,000. Creative Financial Designs Inc. ADV increased its stake in shares of Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after buying an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm during the fourth quarter worth approximately $33,000. Global Wealth Strategies & Associates increased its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares during the last quarter. Finally, Principal Securities Inc. purchased a new position in Affirm in the fourth quarter valued at approximately $49,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AFRM has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $43.00 price target on shares of Affirm in a research note on Friday, May 24th. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Affirm in a report on Monday, June 24th. JPMorgan Chase & Co. raised Affirm from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $41.00 to $43.00 in a report on Thursday, May 9th. Mizuho reissued a “buy” rating and issued a $65.00 price objective on shares of Affirm in a report on Thursday, June 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Thursday, May 9th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.66.

Insider Activity

In other news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 13.05% of the company’s stock.

Affirm Price Performance

Affirm stock traded down $0.45 during midday trading on Tuesday, reaching $29.38. The company’s stock had a trading volume of 4,520,870 shares, compared to its average volume of 8,609,394. Affirm Holdings, Inc. has a fifty-two week low of $12.81 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94. The stock’s 50 day simple moving average is $31.67 and its 200 day simple moving average is $36.82. The firm has a market capitalization of $9.08 billion, a PE ratio of -13.17 and a beta of 3.45.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The business had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. During the same quarter last year, the business posted ($0.69) earnings per share. The business’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -1.98 earnings per share for the current 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.