Bank of New York Mellon Corp Trims Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Bank of New York Mellon Corp cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 872,190 shares of the company's stock after selling 12,907 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.27% of Affirm worth $39,414,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new stake in Affirm in the 4th quarter worth about $28,000. Coppell Advisory Solutions LLC purchased a new stake in Affirm in the 4th quarter worth about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in Affirm in the 4th quarter worth about $43,000. Creative Financial Designs Inc. ADV increased its holdings in Affirm by 640.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company's stock worth $45,000 after acquiring an additional 640 shares during the last quarter. Finally, Prestige Wealth Management Group LLC increased its holdings in Affirm by 78.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company's stock worth $46,000 after acquiring an additional 332 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

NASDAQ:AFRM traded down $1.11 during mid-day trading on Friday, reaching $68.36. The stock had a trading volume of 2,697,011 shares, compared to its average volume of 8,307,992. The firm has a 50 day moving average price of $59.72 and a two-hundred day moving average price of $56.58. The stock has a market capitalization of $22.05 billion, a P/E ratio of -324.87, a P/E/G ratio of 2.33 and a beta of 3.63. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53. 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 results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business's quarterly revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.43) EPS. As a group, analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, CFO Robert O'hare sold 19,802 shares of Affirm stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $70.03, for a total value of $1,386,734.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Christa S. Quarles sold 754 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total value of $50,842.22. Following the transaction, the director directly owned 137,241 shares in the company, valued at $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,247 shares of company stock worth $6,422,823. 11.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on AFRM shares. Stephens started coverage on Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 target price for the company. Wall Street Zen downgraded Affirm from a "buy" rating to a "hold" rating in a research note on Friday, June 6th. Morgan Stanley cut their target price on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. JMP Securities cut their target price on Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Finally, Bank of America raised their target price on Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Nine research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.71.

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.