Envestnet Portfolio Solutions Inc. Buys New Shares in Affirm Holdings, Inc. (NASDAQ:AFRM)

Envestnet Portfolio Solutions Inc. bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,157 shares of the company's stock, valued at approximately $549,000.

Several other hedge funds and other institutional investors have also made changes to their positions in AFRM. Truist Financial Corp acquired a new stake in Affirm in the 4th quarter worth about $212,000. Atria Wealth Solutions Inc. bought a new stake in Affirm in the 4th quarter valued at about $224,000. IFP Advisors Inc boosted its holdings in Affirm by 47.2% in the 4th quarter. IFP Advisors Inc now owns 3,438 shares of the company's stock valued at $212,000 after purchasing an additional 1,103 shares during the period. Bank of New York Mellon Corp boosted its holdings in Affirm by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company's stock valued at $53,902,000 after purchasing an additional 5,169 shares during the period. Finally, Amalgamated Bank boosted its holdings in Affirm by 11.9% in the 4th quarter. Amalgamated Bank now owns 13,493 shares of the company's stock valued at $822,000 after purchasing an additional 1,432 shares during the period. 69.29% of the stock is owned by institutional investors.

Insider Activity at Affirm

In other Affirm 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 sale, the director now directly owns 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith Rabois sold 16,089 shares of the business's stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the sale, the director now owns 29,343 shares in the company, valued at $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 34,677 shares of company stock worth $1,703,245. Corporate insiders own 11.82% of the company's stock.

Affirm Trading Up 1.0%

NASDAQ AFRM opened at $66.90 on Friday. The company has a fifty day moving average of $53.96 and a 200 day moving average of $56.47. The company has a market capitalization of $21.58 billion, a PE ratio of -318.57, a P/E/G ratio of 55.38 and a beta of 3.58. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results 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. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The firm had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the previous year, the business posted ($0.43) EPS. The business's revenue was up 35.9% compared to the same quarter last year. Research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Barclays reaffirmed an "overweight" rating and set a $67.00 price target (up previously from $53.00) on shares of Affirm in a report on Monday, June 9th. Compass Point raised shares of Affirm from a "neutral" rating to a "buy" rating and upped their price target for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. UBS Group cut their price target on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a report on Friday, May 9th. The Goldman Sachs Group upped their price target on shares of Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a report on Monday, May 12th. Finally, Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $70.00 price target on shares of Affirm in a report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Company 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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