Envestnet Asset Management Inc. Has $8.33 Million Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Envestnet Asset Management Inc. increased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 893.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 184,432 shares of the company’s stock after purchasing an additional 165,863 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.06% of Affirm worth $8,334,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in AFRM. Avantax Advisory Services Inc. purchased a new position in Affirm in the fourth quarter valued at about $340,000. Natixis Advisors LLC lifted its position in Affirm by 4.3% during the 4th quarter. Natixis Advisors LLC now owns 19,403 shares of the company’s stock valued at $1,182,000 after acquiring an additional 808 shares during the period. Thrivent Financial for Lutherans purchased a new position in Affirm during the 4th quarter valued at about $228,000. Xponance Inc. increased its stake in Affirm by 34.8% during the 4th quarter. Xponance Inc. now owns 12,456 shares of the company’s stock valued at $759,000 after purchasing an additional 3,216 shares in the last quarter. Finally, Maryland State Retirement & Pension System grew its position in Affirm by 6.2% during the fourth quarter. Maryland State Retirement & Pension System now owns 13,838 shares of the company’s stock valued at $843,000 after buying an additional 807 shares during the period. 69.29% of the stock is owned by institutional investors.

Insider Activity at Affirm

In other Affirm news, Director Christa S. Quarles sold 754 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total value of $50,842.22. Following the sale, the director owned 137,241 shares of the company’s stock, valued at $9,254,160.63. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert O’hare sold 19,802 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total value of $1,386,734.06. The disclosure for this sale can be found here. Insiders have sold 96,247 shares of company stock worth $6,422,823 in the last three months. Corporate insiders own 11.82% of the company’s stock.

Affirm Stock Down 3.1%

Shares of NASDAQ AFRM opened at $66.75 on Tuesday. The firm has a market capitalization of $21.53 billion, a PE ratio of -317.86, a price-to-earnings-growth ratio of 2.63 and a beta of 3.63. The firm’s 50-day moving average is $60.17 and its 200-day moving average is $56.57. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53.

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

Analyst Ratings Changes

Several research firms have recently commented on AFRM. Royal Bank Of Canada lifted their price target on Affirm from $70.00 to $75.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 8th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Wednesday, July 2nd. The Goldman Sachs Group raised their price objective on Affirm from $45.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, May 12th. Deutsche Bank Aktiengesellschaft began coverage on shares of Affirm in a research note on Thursday, July 17th. They set a “buy” rating and a $78.00 target price for the company. Finally, Evercore ISI initiated coverage on Affirm in a report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 target price on the stock. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and a consensus price target of $67.32.

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.