Cresset Asset Management LLC Trims Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Cresset Asset Management LLC reduced its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 70.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,445 shares of the company's stock after selling 33,873 shares during the period. Cresset Asset Management LLC's holdings in Affirm were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. SeaCrest Wealth Management LLC acquired a new position in Affirm in the 4th quarter valued at about $387,000. Mount Vernon Associates Inc. MD grew its position in Affirm by 45.0% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 11,600 shares of the company's stock valued at $706,000 after acquiring an additional 3,600 shares in the last quarter. Omega Financial Group LLC grew its position in Affirm by 5.0% in the 4th quarter. Omega Financial Group LLC now owns 103,027 shares of the company's stock valued at $6,274,000 after acquiring an additional 4,871 shares in the last quarter. Hanseatic Management Services Inc. grew its position in Affirm by 12.1% in the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company's stock valued at $109,000 after acquiring an additional 194 shares in the last quarter. Finally, Kera Capital Partners Inc. acquired a new position in Affirm in the 4th quarter valued at about $647,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Price Performance

Affirm stock opened at $53.74 on Tuesday. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The business has a 50 day simple moving average of $46.32 and a 200-day simple moving average of $56.90. The stock has a market capitalization of $17.09 billion, a PE ratio of -82.68 and a beta of 3.66.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) earnings per share. Equities analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on AFRM. Seaport Res Ptn raised Affirm to a "hold" rating in a research report on Monday, March 24th. Compass Point raised Affirm from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $61.00 to $64.00 in a research report on Wednesday, March 19th. Susquehanna raised Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price objective for the company in a research report on Friday. Wells Fargo & Company lowered their price objective on Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. lowered their price objective on Affirm from $74.00 to $69.00 and set an "overweight" rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Affirm currently has a consensus rating of "Moderate Buy" and an average target price of $65.05.

Insiders Place Their Bets

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of the company's stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares of the company's stock, valued at approximately $10,986,000. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the sale, the director now directly owns 61,520 shares in the company, valued at $3,935,434.40. This trade represents a 20.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,765 shares of company stock worth $3,094,694. 12.41% of the stock is owned by corporate insiders.

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.

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