Bank of New York Mellon Corp Trims Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Bank of New York Mellon Corp lowered its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 1.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 731,682 shares of the company’s stock after selling 13,297 shares during the quarter. Bank of New York Mellon Corp owned 0.25% of Affirm worth $11,217,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of Affirm during the 4th quarter valued at $20,544,000. Vanguard Group Inc. boosted its stake in shares of Affirm by 12.9% in the first quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock worth $763,545,000 after acquiring an additional 1,883,050 shares during the period. State Street Corp grew its position in shares of Affirm by 96.6% during the second quarter. State Street Corp now owns 3,571,814 shares of the company’s stock worth $64,507,000 after purchasing an additional 1,755,252 shares in the last quarter. BlackRock Inc. raised its stake in Affirm by 38.2% during the 1st quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock valued at $239,773,000 after purchasing an additional 1,432,202 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Affirm by 14.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,350,295 shares of the company’s stock worth $204,987,000 after purchasing an additional 1,404,278 shares in the last quarter. 59.69% of the stock is currently owned by institutional investors.

Affirm Trading Down 5.5 %

AFRM stock opened at $24.54 on Friday. The firm’s fifty day simple moving average is $20.70 and its two-hundred day simple moving average is $17.46. The stock has a market capitalization of $7.34 billion, a price-to-earnings ratio of -8.05 and a beta of 2.95. The company has a quick ratio of 13.25, a current ratio of 13.25 and a debt-to-equity ratio of 2.19. Affirm Holdings, Inc. has a twelve month low of $8.62 and a twelve month high of $27.16.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, November 8th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.65). The firm had revenue of $496.55 million for the quarter, compared to analysts’ expectations of $444.48 million. Affirm had a negative return on equity of 35.74% and a negative net margin of 52.58%. Affirm’s revenue for the quarter was up 37.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.86) earnings per share. As a group, analysts anticipate that Affirm Holdings, Inc. will post -0.84 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on AFRM. Mizuho lifted their price objective on shares of Affirm from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Wednesday. Compass Point cut shares of Affirm from a “neutral” rating to a “sell” rating and set a $13.00 price target on the stock. in a research note on Wednesday, October 25th. Morgan Stanley raised their price objective on Affirm from $14.00 to $15.00 and gave the company an “equal weight” rating in a research report on Friday, August 25th. Wells Fargo & Company boosted their target price on Affirm from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 9th. Finally, Barclays raised their price target on Affirm from $21.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, September 11th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $18.44.

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.