Independent Advisor Alliance Buys 1,609 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Independent Advisor Alliance boosted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% during the third quarter, Holdings Channel reports. The firm owned 16,449 shares of the company’s stock after purchasing an additional 1,609 shares during the quarter. Independent Advisor Alliance’s holdings in Affirm were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC bought a new position in Affirm in the third quarter worth approximately $29,000. Ridgewood Investments LLC bought a new position in Affirm in the second quarter worth approximately $27,000. Advisors Asset Management Inc. raised its position in Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the period. Venturi Wealth Management LLC raised its position in Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares during the period. Finally, Allspring Global Investments Holdings LLC raised 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 worth $36,000 after acquiring an additional 540 shares during the period. Institutional investors own 69.29% of the company’s stock.

Insiders Place Their Bets

In related news, President Libor Michalek sold 100,821 shares of Affirm stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the completion of the transaction, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $10,860,071.39. The trade was a 38.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 868,253 shares of company stock valued at $52,186,668 in the last three months. Corporate insiders own 12.41% of the company’s stock.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $68.37 on Thursday. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $70.20. The stock has a market capitalization of $21.47 billion, a P/E ratio of -48.15 and a beta of 3.47. The firm has a fifty day simple moving average of $47.84 and a two-hundred day simple moving average of $37.25. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period last year, the company posted ($0.57) EPS. On average, analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on AFRM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Bank of America raised their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Hold” and an average target price of $51.13.

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.