HighTower Advisors LLC Increases Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

HighTower Advisors LLC lifted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 37.6% during the third quarter, HoldingsChannel.com reports. The firm owned 62,811 shares of the company’s stock after purchasing an additional 17,153 shares during the quarter. HighTower Advisors LLC’s holdings in Affirm were worth $2,566,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in AFRM. Ridgewood Investments LLC bought a new stake in shares of Affirm during the second quarter valued at about $27,000. ORG Wealth Partners LLC bought a new stake in Affirm during the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC increased its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the period. ORG Partners LLC boosted its holdings in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the period. Finally, Advisors Asset Management Inc. grew its position in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

Shares of Affirm stock opened at $70.70 on Friday. The stock has a market capitalization of $22.20 billion, a price-to-earnings ratio of -49.79 and a beta of 3.66. The company has a fifty day moving average of $54.98 and a 200-day moving average of $40.58. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $72.82. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same period last year, the firm earned ($0.57) earnings per share. Equities research analysts expect that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

AFRM has been the topic of a number of recent analyst reports. Wells Fargo & Company increased their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a report on Friday, October 4th. Susquehanna boosted their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Bank of America raised their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Mizuho lifted their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Hold” and an average target price of $55.33.

Insiders Place Their Bets

In related news, President Libor Michalek sold 6,629 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the transaction, the president now owns 160,601 shares in the company, valued at $11,576,120.08. The trade was a 3.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,386,751 shares of company stock valued at $88,673,393 in the last ninety days. Company insiders own 12.41% of the company’s stock.

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.