Janney Montgomery Scott LLC Increases Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Janney Montgomery Scott LLC boosted its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 9.5% in the 4th quarter, Holdings Channel reports. The firm owned 11,713 shares of the company’s stock after acquiring an additional 1,015 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Affirm were worth $713,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. ORG Wealth Partners LLC bought a new position in Affirm in the 3rd quarter valued at $29,000. Advisors Asset Management Inc. increased its stake in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after acquiring an additional 732 shares during the last quarter. Hanseatic Management Services Inc. purchased a new position in shares of Affirm during the third quarter worth about $65,000. Finally, Brooklyn Investment Group bought a new position in shares of Affirm in the third quarter worth approximately $78,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Up 21.8 %

Shares of AFRM stock opened at $75.22 on Friday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $76.88. The stock has a market cap of $23.62 billion, a P/E ratio of -52.97 and a beta of 3.66. The company has a 50 day simple moving average of $63.09 and a two-hundred day simple moving average of $49.18.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. On average, research analysts expect that Affirm Holdings, Inc. will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the sale, the director now directly owns 77,608 shares of the company’s stock, valued at $4,665,792.96. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $72.08, for a total transaction of $477,818.32. Following the completion of the transaction, the president now directly owns 160,601 shares of the company’s stock, valued at approximately $11,576,120.08. This trade represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,339,564 shares of company stock valued at $87,252,461. Corporate insiders own 12.41% of the company’s stock.

Analyst Ratings Changes

AFRM has been the topic of a number of research analyst reports. William Blair started coverage on shares of Affirm in a report on Wednesday, January 15th. They issued an “outperform” rating on the stock. Citizens Jmp raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Bank of America lifted their target price on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays increased their price objective on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, Royal Bank of Canada lifted their price target on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $66.00.

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.