Integrated Investment Consultants LLC Takes $8.70 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Integrated Investment Consultants LLC acquired a new stake in Affirm Holdings, purchasing 192,578 shares valued at approximately $8.7 million, making it the firm's 17th largest holding.
• Insider Katherine Adkins sold over 57,000 shares, resulting in a 33.67% decrease in her position, while a total of 96,247 shares worth approximately $6.4 million have been sold by insiders in the last quarter.
• Affirm Holdings reported a revenue increase of 35.9% year-over-year for the most recent quarter, with a positive earnings surprise that beat analysts' expectations.

Integrated Investment Consultants LLC purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,578 shares of the company's stock, valued at approximately $8,703,000. Affirm accounts for about 1.2% of Integrated Investment Consultants LLC's portfolio, making the stock its 17th biggest holding. Integrated Investment Consultants LLC owned about 0.06% of Affirm at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in AFRM. KLP Kapitalforvaltning AS raised its position in Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock valued at $2,219,000 after buying an additional 200 shares during the last quarter. Allworth Financial LP increased its position in shares of Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares during the period. HB Wealth Management LLC lifted its stake in Affirm by 2.2% during the first quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock worth $518,000 after purchasing an additional 252 shares during the last quarter. Amalgamated Bank grew its holdings in shares of Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock valued at $622,000 after purchasing an additional 280 shares during the last quarter. Finally, M&T Bank Corp raised its position in Affirm by 1.9% in the first quarter. M&T Bank Corp now owns 21,416 shares of the company's stock valued at $968,000 after purchasing an additional 389 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Affirm news, Director Christa S. Quarles sold 754 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total transaction of $50,842.22. Following the completion of the sale, the director directly owned 137,241 shares in the company, valued at approximately $9,254,160.63. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction dated 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 sale, the director owned 29,343 shares of the company's stock, 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. In the last ninety days, insiders sold 96,247 shares of company stock valued at $6,422,823. 11.82% of the stock is currently owned by insiders.

Affirm Stock Up 0.6%

Shares of AFRM traded up $0.42 on Monday, reaching $67.51. The stock had a trading volume of 2,305,451 shares, compared to its average volume of 4,754,631. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53. The company has a 50-day simple moving average of $61.73 and a 200-day simple moving average of $56.80.

Affirm (NASDAQ:AFRM - Get Free Report) last announced 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. The firm had revenue of $783.14 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.43) EPS. Analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on AFRM shares. Barclays upped their price objective on shares of Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Wells Fargo & Company reduced their price objective on Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Needham & Company LLC reissued a "hold" rating on shares of Affirm in a research report on Wednesday, July 2nd. Citigroup restated an "overweight" rating on shares of Affirm in a research report on Monday, June 30th. Finally, Morgan Stanley dropped their target price on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.82.

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.