Cetera Investment Advisers Reduces Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Cetera Investment Advisers lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 14.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,766 shares of the company’s stock after selling 5,035 shares during the period. Cetera Investment Advisers’ holdings in Affirm were worth $1,390,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Durable Capital Partners LP boosted its position in shares of Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after buying an additional 2,888,827 shares during the period. Capital International Investors purchased a new position in shares of Affirm during the fourth quarter valued at approximately $100,030,000. Foxhaven Asset Management LP purchased a new position in shares of Affirm during the fourth quarter valued at approximately $80,917,000. Voloridge Investment Management LLC purchased a new position in shares of Affirm during the fourth quarter valued at approximately $76,738,000. Finally, Allspring Global Investments Holdings LLC bought a new stake in shares of Affirm during the first quarter valued at approximately $45,133,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AFRM has been the subject of several research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Affirm from $74.00 to $69.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Morgan Stanley decreased their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Susquehanna lifted their price target on shares of Affirm from $65.00 to $76.00 and gave the company a “positive” rating in a research note on Wednesday, July 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Wednesday, July 2nd. Finally, Redburn Atlantic raised shares of Affirm to a “hold” rating in a research note on Friday, August 1st. Ten analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.09.

Affirm Stock Performance

Shares of AFRM stock opened at $72.33 on Monday. The business’s fifty day simple moving average is $65.69 and its 200-day simple moving average is $57.75. The company has a market cap of $23.33 billion, a PE ratio of -344.43, a PEG ratio of 2.68 and a beta of 3.63. 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 12-month low of $24.67 and a 12-month high of $82.53.

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 analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.43) earnings per share. Analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction 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 sale, the director directly owned 36,497 shares of the company’s stock, valued at $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Siphelele Jiyane sold 15,871 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.00, for a total transaction of $1,190,325.00. Following the sale, the chief accounting officer directly owned 242,192 shares in the company, valued at $18,164,400. This trade represents a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,114 shares of company stock valued at $11,825,169. Corporate 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.