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

Independent Advisor Alliance boosted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,449 shares of the company’s stock after purchasing an additional 1,609 shares during the period. Independent Advisor Alliance’s holdings in Affirm were worth $671,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in Affirm in the second quarter worth $27,000. ORG Wealth Partners LLC bought a new stake in Affirm in the third quarter worth $29,000. Allspring Global Investments Holdings LLC lifted its stake 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 purchasing an additional 540 shares during the last quarter. ORG Partners LLC lifted its stake in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake 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 purchasing an additional 671 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on AFRM. Mizuho upped their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. BTIG Research raised shares of 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. Wells Fargo & Company upped their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $51.13.

Insider Activity

In other news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, President Libor Michalek sold 100,821 shares of the stock in a transaction that occurred on 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 sale, the president now owns 159,449 shares in the company, valued at approximately $10,860,071.39. The trade was a 38.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 868,253 shares of company stock worth $52,186,668 over the last 90 days. 12.41% of the stock is currently owned by insiders.

Affirm Price Performance

Shares of AFRM opened at $68.37 on Thursday. The stock has a market cap of $21.47 billion, a PE ratio of -48.15 and a beta of 3.47. 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 Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $70.20. The firm’s 50-day simple moving average is $47.84 and its two-hundred day simple moving average is $37.25.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data 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. 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 for the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the prior year, the company earned ($0.57) earnings per share. Analysts anticipate that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

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.