Ameriprise Financial Inc. Has $8.89 Million Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Ameriprise Financial Inc. boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 145,932 shares of the company’s stock after buying an additional 3,672 shares during the period. Ameriprise Financial Inc.’s holdings in Affirm were worth $8,887,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Capital Research Global Investors grew its stake in Affirm by 2.0% during the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after buying an additional 470,409 shares in the last quarter. Vanguard Group Inc. grew its stake in Affirm by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after buying an additional 716,574 shares in the last quarter. Capital World Investors lifted its holdings in shares of Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after acquiring an additional 72,582 shares during the last quarter. Jericho Capital Asset Management L.P. lifted its holdings in shares of Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after acquiring an additional 538,892 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Affirm by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 4,173,353 shares of the company’s stock worth $254,238,000 after acquiring an additional 212,234 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the sale, the director now owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This trade represents a 20.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction on Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the completion of the sale, the director now directly owns 38,997 shares of the company’s stock, valued at approximately $1,785,282.66. The trade was a 6.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,765 shares of company stock valued at $2,694,694 in the last quarter. 12.41% of the stock is currently owned by company insiders.

Affirm Stock Down 3.8%

Affirm stock opened at $49.74 on Wednesday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The firm has a 50 day moving average price of $46.77 and a two-hundred day moving average price of $57.19. The firm has a market cap of $16.05 billion, a price-to-earnings ratio of -76.52 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The company’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.43) EPS. Equities analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Morgan Stanley dropped their target price on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. TD Cowen assumed coverage on shares of Affirm in a report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price for the company. Evercore ISI assumed coverage on shares of Affirm in a report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 target price for the company. UBS Group dropped their target price on shares of Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Finally, Bank of America increased their target price on shares of Affirm from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Seven analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average price target of $65.05.

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.