Envestnet Asset Management Inc. Acquires 48,734 Shares of Affirm Holdings, Inc. $AFRM

Envestnet Asset Management Inc. lifted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 26.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 235,152 shares of the company’s stock after purchasing an additional 48,734 shares during the period. Envestnet Asset Management Inc. owned 0.07% of Affirm worth $17,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in Affirm by 127.9% during the 3rd quarter. Allianz Asset Management GmbH now owns 246,860 shares of the company’s stock worth $18,041,000 after acquiring an additional 138,547 shares during the period. Callan Family Office LLC lifted its position in shares of Affirm by 5.3% during the 3rd quarter. Callan Family Office LLC now owns 4,455 shares of the company’s stock valued at $326,000 after acquiring an additional 226 shares during the period. AGF Management Ltd. acquired a new stake in shares of Affirm during the 3rd quarter worth $10,386,000. State of Wyoming bought a new position in shares of Affirm in the third quarter worth $175,000. Finally, Jones Financial Companies Lllp raised its stake in Affirm by 87.7% in the third quarter. Jones Financial Companies Lllp now owns 11,067 shares of the company’s stock valued at $841,000 after purchasing an additional 5,170 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Price Performance

AFRM stock opened at $49.81 on Monday. The company has a market capitalization of $16.59 billion, a P/E ratio of 61.49, a price-to-earnings-growth ratio of 1.86 and a beta of 3.56. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The business has a 50-day simple moving average of $70.16 and a two-hundred day simple moving average of $73.85. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The company’s revenue was up 29.6% compared to the same quarter last year. Research analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Max R. Levchin sold 666,666 shares of Affirm 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert O’hare sold 36,401 shares of the company’s 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 sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 711,256 shares of company stock valued at $57,231,923 in the last three months. 11.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. UBS Group set a $78.00 price target on shares of Affirm in a research report on Friday, February 6th. Stephens reduced their target price on Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. Needham & Company LLC decreased their price target on Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a research note on Friday, February 6th. Citigroup upgraded Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 target price on shares of Affirm in a research report on Monday, February 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $86.67.

Affirm Company 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.