Los Angeles Capital Management LLC Purchases New Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Los Angeles Capital Management LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRMGet Rating) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 15,120 shares of the company’s stock, valued at approximately $273,000.

Other institutional investors have also recently modified their holdings of the company. Covestor Ltd purchased a new stake in Affirm during the first quarter worth $30,000. Kathleen S. Wright Associates Inc. boosted its position in Affirm by 48.8% during the second quarter. Kathleen S. Wright Associates Inc. now owns 1,936 shares of the company’s stock worth $35,000 after purchasing an additional 635 shares in the last quarter. AdvisorNet Financial Inc boosted its position in Affirm by 100.0% during the second quarter. AdvisorNet Financial Inc now owns 2,000 shares of the company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. North Star Investment Management Corp. boosted its position in Affirm by 185.7% during the second quarter. North Star Investment Management Corp. now owns 2,000 shares of the company’s stock worth $36,000 after purchasing an additional 1,300 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its position in Affirm by 32.4% during the second quarter. Exchange Traded Concepts LLC now owns 2,013 shares of the company’s stock worth $36,000 after purchasing an additional 493 shares in the last quarter. 72.76% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Performance

Affirm stock opened at $17.01 on Friday. The firm has a market capitalization of $4.92 billion, a P/E ratio of -7.49 and a beta of 3.08. The stock has a fifty day moving average price of $19.89 and a 200 day moving average price of $23.57. Affirm Holdings, Inc. has a 52 week low of $11.94 and a 52 week high of $159.40. The company has a current ratio of 11.87, a quick ratio of 11.87 and a debt-to-equity ratio of 1.56.

Affirm (NASDAQ:AFRMGet Rating) last announced its quarterly earnings results on Thursday, August 25th. The company reported ($0.65) EPS for the quarter, missing the consensus estimate of ($0.45) by ($0.20). The firm had revenue of $364.10 million for the quarter, compared to analyst estimates of $354.86 million. Affirm had a negative return on equity of 25.53% and a negative net margin of 45.24%. The business’s revenue was up 39.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.48) earnings per share. Equities research analysts anticipate that Affirm Holdings, Inc. will post -3.39 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 17,287 shares of the company’s stock in a transaction dated Tuesday, November 1st. The stock was sold at an average price of $20.04, for a total transaction of $346,431.48. Following the completion of the sale, the director now directly owns 86,434 shares in the company, valued at $1,732,137.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 12.11% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on AFRM shares. Royal Bank of Canada decreased their target price on Affirm from $31.00 to $23.00 and set an “outperform” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Affirm from $22.00 to $14.00 and set a “hold” rating on the stock in a research report on Wednesday. Bank of America reduced their price objective on Affirm from $45.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, August 30th. Piper Sandler reduced their price objective on Affirm from $28.00 to $22.00 and set a “neutral” rating on the stock in a research report on Wednesday. Finally, Mizuho reduced their price objective on Affirm from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, September 7th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $29.72.

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.

Further Reading

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Institutional Ownership by Quarter for Affirm (NASDAQ:AFRM)

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