Avantax Advisory Services Inc. Sells 278 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Avantax Advisory Services Inc. lessened its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,309 shares of the company’s stock after selling 278 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Affirm were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. a16z Perennial Management L.P. boosted its position in shares of Affirm by 34.4% during the 1st quarter. a16z Perennial Management L.P. now owns 104,220 shares of the company’s stock worth $4,710,000 after purchasing an additional 26,700 shares in the last quarter. Wakefield Asset Management LLLP acquired a new stake in shares of Affirm in the 1st quarter worth about $1,517,000. Readystate Asset Management LP acquired a new stake in shares of Affirm in the 1st quarter worth about $2,041,000. KLP Kapitalforvaltning AS raised its holdings in shares of Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock worth $2,219,000 after acquiring an additional 200 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Affirm in the 1st quarter worth about $1,672,000. Institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the firm’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 transaction of $152,150.00. Following the completion of the sale, the director owned 36,497 shares in the company, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert O’hare sold 19,802 shares of Affirm stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total transaction of $1,386,734.06. The disclosure for this sale can be found here. Insiders have sold a total of 163,114 shares of company stock worth $11,825,169 over the last 90 days. Corporate insiders own 11.82% of the company’s stock.

Wall Street Analysts Forecast Growth

AFRM has been the topic of a number of analyst reports. Rothschild & Co Redburn initiated coverage on shares of Affirm in a report on Friday, August 1st. They issued a “neutral” rating and a $74.00 target price on the stock. Oppenheimer set a $80.00 target price on shares of Affirm and gave the stock an “outperform” rating in a report on Monday, July 21st. UBS Group lowered their target price on shares of Affirm from $62.00 to $56.00 and set a “neutral” rating on the stock in a report on Friday, May 9th. JMP Securities lowered their target price on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Finally, Bank of America upped 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. Ten equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Affirm Trading Down 8.4%

Shares of AFRM stock opened at $72.33 on Friday. The company has a 50 day moving average of $65.69 and a 200-day moving average of $57.73. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 12-month low of $24.67 and a 12-month high of $82.53. The firm has a market cap of $23.33 billion, a P/E ratio of -344.43, a PEG ratio of 2.92 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued 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. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The company had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. During the same quarter last year, the business posted ($0.43) EPS. Affirm’s quarterly revenue was up 35.9% compared to the same quarter last year. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

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.