Oppenheimer Asset Management Inc. Raises Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Oppenheimer Asset Management Inc. grew its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 15.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,220 shares of the company’s stock after acquiring an additional 3,004 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Affirm were worth $1,004,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pursue Wealth Partners LLC purchased a new position in shares of Affirm during the first quarter valued at approximately $235,000. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Affirm during the 1st quarter worth $549,000. Institute for Wealth Management LLC. lifted its stake in shares of Affirm by 16.4% during the 1st quarter. Institute for Wealth Management LLC. now owns 7,856 shares of the company’s stock worth $355,000 after purchasing an additional 1,105 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Affirm by 2.8% during the 1st quarter. QRG Capital Management Inc. now owns 54,378 shares of the company’s stock worth $2,457,000 after purchasing an additional 1,492 shares during the period. Finally, RJA Asset Management LLC lifted its stake in shares of Affirm by 39.4% during the 1st quarter. RJA Asset Management LLC now owns 553,827 shares of the company’s stock worth $25,027,000 after purchasing an additional 156,402 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. JMP Securities reduced their target price on Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. cut their price objective on shares of Affirm from $74.00 to $69.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a report on Monday, March 24th. Evercore ISI began coverage on shares of Affirm in a report on Wednesday, April 9th. They set an “outperform” rating and a $50.00 price objective on the stock. Finally, The Goldman Sachs Group increased their price target on shares of Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a research note on Monday, May 12th. 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.05.

Affirm Trading Up 1.7%

Shares of AFRM opened at $68.06 on Friday. The stock’s 50-day moving average is $54.48 and its two-hundred day moving average is $56.39. The stock has a market cap of $21.96 billion, a PE ratio of -324.10, a P/E/G ratio of 56.90 and a beta of 3.58. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. Affirm’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.43) earnings per share. Equities analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the transaction, the director now directly owns 45,432 shares of the company’s stock, valued at $2,063,067.12. This represents a 26.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director now directly owns 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,677 shares of company stock valued at $1,703,245 in the last quarter. Company insiders own 11.82% of the company’s stock.

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.