HighTower Advisors LLC Sells 64,602 Shares of Affirm Holdings, Inc. $AFRM

HighTower Advisors LLC decreased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 71.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,181 shares of the company’s stock after selling 64,602 shares during the period. HighTower Advisors LLC’s holdings in Affirm were worth $1,183,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Affirm in the 4th quarter worth approximately $28,000. Allworth Financial LP raised its position in shares of Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock worth $27,000 after acquiring an additional 219 shares in the last quarter. CoreCap Advisors LLC raised its position in shares of Affirm by 11,810.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,191 shares of the company’s stock worth $73,000 after acquiring an additional 1,181 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Affirm by 3,637.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,383 shares of the company’s stock worth $62,000 after acquiring an additional 1,346 shares in the last quarter. Finally, First Horizon Advisors Inc. bought a new position in shares of Affirm in the 1st quarter worth approximately $69,000. Institutional investors own 69.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AFRM has been the subject of several research reports. UBS Group decreased their target price on Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Affirm in a research report on Thursday, July 17th. They issued a “buy” rating and a $78.00 target price for the company. BTIG Research lowered Affirm from a “buy” rating to a “neutral” rating in a research report on Monday, July 14th. Citigroup reissued an “overweight” rating on shares of Affirm in a research report on Monday, June 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Wednesday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $69.74.

Insiders Place Their Bets

In other Affirm news, CAO Siphelele Jiyane sold 15,871 shares of Affirm stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $1,190,325.00. Following the completion of the sale, the chief accounting officer owned 242,192 shares of the company’s stock, valued at approximately $18,164,400. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Max R. Levchin sold 167,443 shares of Affirm stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $80.10, for a total value of $13,412,184.30. The disclosure for this sale can be found here. In the last quarter, insiders have sold 629,715 shares of company stock worth $49,194,321. 11.82% of the stock is owned by corporate insiders.

Affirm Stock Up 0.7%

Affirm stock opened at $77.95 on Wednesday. The firm has a market cap of $25.15 billion, a price-to-earnings ratio of -371.19, a PEG ratio of 2.87 and a beta of 3.63. The stock has a fifty day simple moving average of $69.98 and a two-hundred day simple moving average of $59.07. Affirm Holdings, Inc. has a 12 month low of $30.46 and a 12 month high of $82.53. 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 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.