Envestnet Asset Management Inc. Buys 165,863 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Envestnet Asset Management Inc. increased its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 893.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 184,432 shares of the company's stock after acquiring an additional 165,863 shares during the period. Envestnet Asset Management Inc. owned about 0.06% of Affirm worth $8,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Capital Research Global Investors increased its holdings in Affirm by 2.0% during the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company's stock worth $1,477,747,000 after purchasing an additional 470,409 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Affirm by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company's stock valued at $1,328,568,000 after buying an additional 716,574 shares during the last quarter. Capital World Investors grew its holdings in Affirm by 0.4% during the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company's stock worth $1,116,861,000 after buying an additional 72,582 shares in the last quarter. Durable Capital Partners LP raised its position in Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after buying an additional 2,888,827 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in Affirm by 11.6% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock valued at $316,561,000 after buying an additional 538,892 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Price Performance

Shares of NASDAQ:AFRM traded up $0.82 during trading on Thursday, reaching $66.46. The company had a trading volume of 1,903,719 shares, compared to its average volume of 7,315,337. The company has a fifty day moving average of $60.84 and a two-hundred day moving average of $56.69. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $21.44 billion, a P/E ratio of -316.29, a price-to-earnings-growth ratio of 2.47 and a beta of 3.63. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. During the same quarter in the prior year, the firm earned ($0.43) earnings per share. The firm's revenue was up 35.9% on a year-over-year basis. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price target on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. The Goldman Sachs Group boosted their target price on Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Citigroup reissued an "overweight" rating on shares of Affirm in a research report on Monday, June 30th. Stephens assumed coverage on Affirm in a report on Thursday, June 12th. They set an "equal weight" rating and a $69.00 price objective for the company. Finally, UBS Group cut their price target on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $67.82.

Insider Activity at Affirm

In other news, CFO Robert O'hare sold 19,802 shares of the business's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $70.03, for a total value of $1,386,734.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the company'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 directly owned 36,497 shares of the company's stock, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,247 shares of company stock worth $6,422,823 in the last quarter. 11.82% of the stock is owned by company 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.