Affirm Holdings, Inc. (NASDAQ:AFRM) Stake Lowered by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRMFree Report) by 39.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,646 shares of the company’s stock after selling 18,732 shares during the period. PNC Financial Services Group Inc.’s holdings in Affirm were worth $1,408,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Planned Solutions Inc. acquired a new stake in shares of Affirm in the 4th quarter valued at $25,000. Creative Financial Designs Inc. ADV lifted its stake in shares of Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Principal Securities Inc. acquired a new position in Affirm during the 4th quarter worth $49,000. Lindbrook Capital LLC lifted its position in Affirm by 117.9% during the 4th quarter. Lindbrook Capital LLC now owns 1,386 shares of the company’s stock worth $68,000 after acquiring an additional 750 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in Affirm by 9,900.0% during the 4th quarter. Whittier Trust Co. now owns 1,500 shares of the company’s stock worth $74,000 after acquiring an additional 1,485 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Down 1.3 %

NASDAQ AFRM opened at $29.64 on Wednesday. The stock’s 50-day moving average is $33.29 and its 200-day moving average is $37.22. Affirm Holdings, Inc. has a one year low of $12.81 and a one year high of $52.48. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The firm has a market cap of $9.16 billion, a P/E ratio of -13.29 and a beta of 3.56.

Affirm (NASDAQ:AFRMGet Free Report) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period last year, the business posted ($0.69) earnings per share. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the transaction, the director now owns 78,552 shares of the company’s stock, valued at $2,701,403.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on AFRM. Wedbush reissued an “underperform” rating and set a $20.00 target price on shares of Affirm in a research report on Friday, February 9th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Barclays cut their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday, April 16th. Royal Bank of Canada reissued a “sector perform” rating and set a $43.00 target price on shares of Affirm in a research report on Friday, May 24th. Finally, Stephens boosted their price objective on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Affirm has an average rating of “Hold” and a consensus price target of $27.53.

View Our Latest Stock Analysis on AFRM

Affirm Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Affirm (NASDAQ:AFRM)

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