Private Advisor Group LLC Sells 3,792 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Private Advisor Group LLC has reduced its stake in Affirm Holdings, Inc. by 40.6% during the 1st quarter, bringing its holdings to 5,557 shares valued at approximately $251,000.
• Analysts have mixed views on Affirm, with price targets updated by research firms such as Truist Financial, which raised its target to $72 and maintained a "buy" rating, while Morgan Stanley lowered its target from $65 to $60.
• Insider trading activity saw Directors Christa S. Quarles and Noel Bertram Watson sell shares, contributing to a total of 80,158 shares sold by insiders in the last quarter.

Private Advisor Group LLC decreased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 40.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,557 shares of the company's stock after selling 3,792 shares during the quarter. Private Advisor Group LLC's holdings in Affirm were worth $251,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in AFRM. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Affirm by 2,800.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company's stock worth $2,083,000 after purchasing an additional 44,495 shares during the period. Ameriprise Financial Inc. increased its position in shares of Affirm by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company's stock worth $8,887,000 after purchasing an additional 3,672 shares during the period. Spire Wealth Management bought a new position in Affirm in the first quarter valued at about $120,000. Deutsche Bank AG grew its position in Affirm by 2.6% in the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company's stock valued at $1,973,000 after acquiring an additional 817 shares during the last quarter. Finally, Sei Investments Co. grew its position in Affirm by 5.3% in the fourth quarter. Sei Investments Co. now owns 40,840 shares of the company's stock valued at $2,487,000 after acquiring an additional 2,067 shares during the last quarter. Institutional investors own 69.29% of the company's stock.

Insider Buying and Selling

In other news, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares in the company, valued at $2,221,207.42. This trade represents a 6.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert O'hare sold 19,802 shares of Affirm stock in a transaction 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 80,158 shares of company stock valued at $5,602,284. 11.82% of the stock is owned by insiders.

Affirm Price Performance

AFRM traded up $8.38 during trading on Monday, reaching $74.79. 9,868,835 shares of the company were exchanged, compared to its average volume of 4,942,894. The company's 50-day moving average is $63.23 and its two-hundred day moving average is $57.10. The company has a market cap of $24.13 billion, a price-to-earnings ratio of -356.14, a P/E/G ratio of 2.46 and a beta of 3.63. The company has a quick ratio of 11.47, a current 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.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share 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 analyst estimates of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.43) EPS. Research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

AFRM has been the topic of a number of recent analyst reports. Truist Financial lifted their target price on Affirm from $58.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Susquehanna lifted their target price on Affirm from $65.00 to $76.00 and gave the company a "positive" rating in a research report on Wednesday, July 23rd. Citigroup reiterated an "overweight" rating on shares of Affirm in a research report on Monday, June 30th. The Goldman Sachs Group lifted their target price on Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Finally, Barclays lifted their target price on Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. Eleven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $68.09.

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.