Independent Advisor Alliance Acquires 1,575 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Independent Advisor Alliance increased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 9.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,024 shares of the company’s stock after purchasing an additional 1,575 shares during the period. Independent Advisor Alliance’s holdings in Affirm were worth $1,098,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AFRM. Spyglass Capital Management LLC boosted its stake in Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after acquiring an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Affirm by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock valued at $138,368,000 after acquiring an additional 68,848 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Affirm by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after acquiring an additional 5,169 shares in the last quarter. Artemis Investment Management LLP boosted its stake in Affirm by 2.1% in the fourth quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after acquiring an additional 15,517 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after acquiring an additional 528,400 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the sale, the director now owns 93,694 shares in the company, valued at $5,839,010.08. This trade represents a 14.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $72.05, for a total transaction of $180,125.00. Following the completion of the sale, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 62,301 shares of company stock valued at $3,986,218. Corporate insiders own 12.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Royal Bank of Canada raised their target price on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Susquehanna cut shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target for the company. in a report on Tuesday, January 21st. Compass Point raised shares of Affirm from a “sell” rating to a “neutral” rating and raised their price target for the stock from $20.00 to $61.00 in a report on Tuesday, January 28th. Morgan Stanley raised their price target on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and a consensus price target of $70.24.

Affirm Stock Up 6.8 %

AFRM opened at $50.08 on Friday. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The company has a fifty day moving average of $61.91 and a two-hundred day moving average of $55.79. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of -77.05 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Affirm Company 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.