The Manufacturers Life Insurance Company boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 13.2% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 94,076 shares of the company's stock after purchasing an additional 10,972 shares during the quarter. The Manufacturers Life Insurance Company's holdings in Affirm were worth $1,791,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of AFRM. US Bancorp DE increased its holdings in Affirm by 2,007.4% during the 3rd quarter. US Bancorp DE now owns 1,433 shares of the company's stock worth $27,000 after purchasing an additional 1,365 shares during the period. Covestor Ltd bought a new stake in Affirm during the 1st quarter valued at $30,000. American International Group Inc. acquired a new stake in shares of Affirm in the 2nd quarter worth $33,000. Twin Lakes Capital Management LLC acquired a new stake in shares of Affirm in the 3rd quarter worth $34,000. Finally, Private Ocean LLC acquired a new stake in shares of Affirm in the 3rd quarter worth $35,000. 67.49% of the stock is currently owned by hedge funds and other institutional investors.
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Insider Transactions at Affirm
In other news, Director Keith Rabois sold 17,287 shares of the company's stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $9.18, for a total transaction of $158,694.66. Following the sale, the director now owns 51,860 shares of the company's stock, valued at $476,074.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 51,861 shares of company stock valued at $694,246. 12.11% of the stock is currently owned by company insiders.
Affirm Stock Down 14.1 %
Shares of NASDAQ AFRM opened at $18.15 on Friday. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -8.00 and a beta of 3.27. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 1.68. Affirm Holdings, Inc. has a 52-week low of $8.62 and a 52-week high of $83.57. The business's 50 day moving average is $12.16 and its two-hundred day moving average is $19.18.
Affirm (NASDAQ:AFRM – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.86) earnings per share for the quarter, missing analysts' consensus estimates of ($0.82) by ($0.04). Affirm had a negative return on equity of 25.51% and a negative net margin of 45.24%. The company had revenue of $361.62 million for the quarter, compared to analysts' expectations of $360.72 million. Research analysts predict that Affirm Holdings, Inc. will post -3.5 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of research firms have recently weighed in on AFRM. Royal Bank of Canada lowered their price objective on Affirm from $31.00 to $23.00 and set an "outperform" rating for the company in a research report on Wednesday, November 9th. Morgan Stanley lowered their price objective on Affirm from $52.00 to $46.00 and set an "overweight" rating for the company in a research report on Thursday, December 8th. UBS Group initiated coverage on Affirm in a research note on Tuesday, November 29th. They issued a "neutral" rating and a $14.00 target price for the company. Barclays reduced their target price on Affirm from $29.00 to $16.00 and set an "overweight" rating for the company in a research note on Thursday, November 10th. Finally, Bank of America lowered Affirm from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $32.00 to $13.00 in a research note on Tuesday, December 13th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $24.22.
Affirm Profile
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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 from one to sixty months.
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