Essex Financial Services Inc. Acquires Shares of 4,004 Affirm Holdings, Inc. (NASDAQ:AFRM)

Essex Financial Services Inc. bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,004 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AFRM. Spyglass Capital Management LLC raised its holdings in Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after buying an additional 672,883 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Affirm by 2.1% in the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after buying an additional 15,517 shares during the period. Bank of Montreal Can boosted its stake in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares in the last quarter. Finally, Holocene Advisors LP acquired a new position in Affirm during the third quarter worth $27,872,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

NASDAQ:AFRM opened at $79.28 on Friday. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $79.67. The firm has a market cap of $24.90 billion, a price-to-earnings ratio of -121.97 and a beta of 3.66. The company’s 50-day moving average is $63.71 and its two-hundred day moving average is $50.57. 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 (NASDAQ:AFRM) last announced its quarterly earnings data 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 net margin of 7.10% and a negative return on equity of 7.29%. Research analysts expect that Affirm Holdings, Inc. will post -0.59 EPS for the current year.

Analyst Ratings Changes

A number of research firms have commented on AFRM. Barclays raised their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday. Wells Fargo & Company boosted their price objective on shares of Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. UBS Group increased their target price on shares of Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada boosted their price target on Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.24.

Insider Transactions at Affirm

In related news, COO Michael Linford sold 400,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the transaction, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.98, for a total value of $1,109,612.28. Following the completion of the sale, the director now owns 109,780 shares of the company’s stock, valued at $7,572,624.40. This trade represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,038,626 shares of company stock worth $70,690,871 over the last quarter. 12.41% of the stock is currently owned by insiders.

About Affirm

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.