Oppenheimer & Co. Inc. Makes New Investment in Affirm Holdings, Inc. $AFRM

Oppenheimer & Co. Inc. bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,633 shares of the company's stock, valued at approximately $1,013,000.

A number of other hedge funds have also bought and sold shares of the business. Spyglass Capital Management LLC grew its stake in shares of Affirm by 15.2% during the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock valued at $76,168,000 after acquiring an additional 218,745 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Affirm in the 2nd quarter worth approximately $75,121,000. Dimensional Fund Advisors LP grew its holdings in Affirm by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock worth $72,100,000 after purchasing an additional 166,252 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in Affirm by 23.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company's stock valued at $71,829,000 after buying an additional 303,037 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in Affirm by 8.8% in the first quarter. Swiss National Bank now owns 806,800 shares of the company's stock valued at $36,968,000 after acquiring an additional 65,000 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

Analysts Set New Price Targets

AFRM has been the topic of several research reports. Wells Fargo & Company raised their price target on shares of Affirm from $89.00 to $96.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 8th. Morgan Stanley decreased their price target on Affirm from $82.00 to $79.00 and set an "equal weight" rating for the company in a report on Monday, October 26th. Needham & Company LLC set a $85.00 price target on Affirm in a research note on Wednesday, September 16th. Robert W. Baird upped their price target on Affirm from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Finally, UBS Group upped their target price on Affirm from $82.00 to $90.00 and gave the company a "neutral" rating in a report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $97.41.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. This represents a 21.46% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer directly owned 188,711 shares of the company's stock, valued at $13,623,047.09. This represents a 12.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 280,118 shares of company stock valued at $22,223,307. Insiders own 11.01% of the company's stock.

Affirm Stock Up 0.1%

Affirm stock opened at $73.58 on Tuesday. The company has a market cap of $24.83 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 2.98 and a beta of 3.82. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $90.44. The company has a fifty day simple moving average of $73.01 and a 200 day simple moving average of $66.58.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $0.35 by $4.27. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the firm posted $0.20 EPS. Research analysts anticipate that Affirm Holdings, Inc. will post 1.89 earnings per share for the current fiscal year.

About Affirm

Affirm Holdings, Inc NASDAQ: AFRM operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm's platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.

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