Pursue Wealth Partners LLC Acquires Shares of 5,201 Affirm Holdings, Inc. (NASDAQ:AFRM)

Pursue Wealth Partners LLC bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,201 shares of the company's stock, valued at approximately $235,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AFRM. Rhumbline Advisers raised its holdings in Affirm by 10.8% in the 4th quarter. Rhumbline Advisers now owns 249,451 shares of the company's stock valued at $15,192,000 after acquiring an additional 24,286 shares during the last quarter. CIBC Asset Management Inc raised its position in Affirm by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 7,942 shares of the company's stock valued at $484,000 after purchasing an additional 422 shares during the period. Truist Financial Corp acquired a new position in Affirm during the 4th quarter worth about $212,000. Venturi Wealth Management LLC lifted its position in shares of Affirm by 29.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company's stock worth $87,000 after purchasing an additional 325 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Affirm in the fourth quarter worth $224,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America raised their target price on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. Stephens initiated coverage on Affirm in a report on Thursday, June 12th. They set an "equal weight" rating and a $69.00 price target for the company. Morgan Stanley cut their target price on Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. decreased their target price on Affirm from $74.00 to $69.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Finally, Evercore ISI assumed coverage on shares of Affirm in a report on Wednesday, April 9th. They set an "outperform" rating and a $50.00 price objective on the stock. Nine equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Affirm currently has an average rating of "Moderate Buy" and an average price target of $65.05.

Affirm Price Performance

Affirm stock traded up $3.47 during midday trading on Tuesday, reaching $65.66. 7,283,622 shares of the company were exchanged, compared to its average volume of 8,394,945. The firm's 50-day simple moving average is $52.95 and its 200-day simple moving average is $56.41. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The company has a market capitalization of $21.18 billion, a price-to-earnings ratio of -312.67, a P/E/G ratio of 128.05 and a beta of 3.58. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. 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 firm posted ($0.43) earnings per share. On average, analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director now directly owns 36,497 shares of the company's stock, valued at $2,221,207.42. The trade was a 6.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Keith Rabois sold 16,089 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the transaction, the director now directly owns 29,343 shares in the company, valued at $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,677 shares of company stock valued at $1,703,245. Insiders own 11.82% of the company's stock.

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.