Wealth Enhancement Advisory Services LLC Takes $228,000 Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Wealth Enhancement Advisory Services LLC acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,747 shares of the company’s stock, valued at approximately $228,000.

A number of other large investors have also recently added to or reduced their stakes in AFRM. Durable Capital Partners LP boosted its position in shares of Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after acquiring an additional 2,888,827 shares during the period. Norges Bank acquired a new stake in shares of Affirm in the fourth quarter valued at $139,949,000. Capital International Investors acquired a new stake in Affirm in the fourth quarter worth about $100,030,000. Foxhaven Asset Management LP acquired a new stake in Affirm in the fourth quarter worth about $80,917,000. Finally, Voloridge Investment Management LLC acquired a new stake in Affirm in the fourth quarter worth about $76,738,000. Institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays restated an “overweight” rating and set a $67.00 target price (up previously from $53.00) on shares of Affirm in a report on Monday, June 9th. Morgan Stanley dropped their price objective on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $70.00 price objective on shares of Affirm in a report on Thursday, June 5th. Finally, Stephens initiated coverage on Affirm in a report on Thursday, June 12th. They set an “equal weight” rating and a $69.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.05.

Affirm Trading Up 2.9%

NASDAQ AFRM opened at $60.85 on Tuesday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53. The business has a 50 day simple moving average of $50.53 and a 200 day simple moving average of $56.66. The stock has a market capitalization of $19.63 billion, a P/E ratio of -93.62 and a beta of 3.58.

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

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 16,089 shares of the business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the sale, the director now directly owns 29,343 shares in the company, valued at $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 11.82% of the stock is currently owned by corporate insiders.

Affirm Company 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.