Envestnet Asset Management Inc. Boosts Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Envestnet Asset Management Inc. lifted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 893.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 184,432 shares of the company’s stock after buying an additional 165,863 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Affirm worth $8,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new position in Affirm during the 4th quarter worth $28,000. Coppell Advisory Solutions LLC acquired a new position in Affirm during the 4th quarter worth $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Affirm during the 4th quarter worth $43,000. Prestige Wealth Management Group LLC grew its stake in Affirm by 78.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock worth $46,000 after purchasing an additional 332 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. grew its stake in Affirm by 3,637.8% during the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,383 shares of the company’s stock worth $62,000 after purchasing an additional 1,346 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

AFRM has been the subject of several analyst reports. JMP Securities lowered their price objective on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research report on Friday, May 9th. TD Cowen assumed coverage on Affirm in a research note on Tuesday, April 8th. They set a “buy” rating and a $50.00 price objective for the company. BTIG Research downgraded Affirm from a “buy” rating to a “neutral” rating in a research note on Monday, July 14th. Citigroup reissued an “overweight” rating on shares of Affirm in a research note on Monday, June 30th. Finally, Stephens started coverage on Affirm in a report on Thursday, June 12th. They issued an “equal weight” rating and a $69.00 price target on the stock. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus price target of $67.32.

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 shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director directly owned 29,343 shares of the company’s stock, valued at $1,496,493. The trade was a 35.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 57,102 shares of the business’s stock in a transaction on Monday, July 7th. The shares were sold at an average price of $70.27, for a total transaction of $4,012,557.54. Following the sale, the insider directly owned 112,467 shares in the company, valued at approximately $7,903,056.09. This trade represents a 33.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,247 shares of company stock valued at $6,422,823 in the last three months. Insiders own 11.82% of the company’s stock.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $66.75 on Tuesday. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a 50 day simple moving average of $60.17 and a 200-day simple moving average of $56.57. The company has a market cap of $21.53 billion, a PE ratio of -317.86, a P/E/G ratio of 2.63 and a beta of 3.63. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm had revenue of $783.14 million for the quarter, compared to analysts’ expectations of $782.98 million. During the same quarter in the previous year, the company earned ($0.43) earnings per share. The firm’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

About Affirm

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.