Arete Wealth Advisors LLC Boosts Holdings in Affirm Holdings, Inc. $AFRM

Arete Wealth Advisors LLC lifted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 213.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 18,696 shares of the company’s stock after purchasing an additional 12,728 shares during the period. Arete Wealth Advisors LLC’s holdings in Affirm were worth $1,366,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new position in Affirm in the third quarter valued at $19,077,000. Resona Asset Management Co. Ltd. acquired a new stake in Affirm in the 3rd quarter valued at about $6,036,000. Gateway Investment Advisers LLC purchased a new position in shares of Affirm in the 3rd quarter valued at about $1,315,000. Envestnet Asset Management Inc. boosted its stake in shares of Affirm by 26.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock valued at $17,185,000 after buying an additional 48,734 shares during the period. Finally, Norges Bank acquired a new position in shares of Affirm during the second quarter worth about $183,475,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of the firm’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the transaction, the chief financial officer owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by company insiders.

Affirm Stock Performance

NASDAQ AFRM opened at $46.98 on Monday. The company has a fifty day moving average of $65.94 and a two-hundred day moving average of $72.13. The company has a market capitalization of $15.65 billion, a PE ratio of 58.00, a P/E/G ratio of 1.72 and a beta of 3.61. Affirm Holdings, Inc. has a 1 year low of $30.90 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company’s revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.23 earnings per share. As a group, analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

AFRM has been the topic of several analyst reports. The Goldman Sachs Group cut shares of Affirm from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. UBS Group set a $78.00 price objective on shares of Affirm in a research report on Friday, February 6th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $85.00 price objective on shares of Affirm in a research report on Monday, February 9th. Wolfe Research began coverage on Affirm in a report on Tuesday, December 9th. They issued a “peer perform” rating on the stock. Finally, Susquehanna restated a “positive” rating and issued a $100.00 price target on shares of Affirm in a research note on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Affirm presently has an average rating of “Moderate Buy” and an average target price of $85.00.

Affirm Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.