SBI Securities Co. Ltd. Boosts Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

SBI Securities Co. Ltd. boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 31.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 36,770 shares of the company's stock after purchasing an additional 8,699 shares during the period. SBI Securities Co. Ltd.'s holdings in Affirm were worth $1,662,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its position in Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares in the last quarter. Amalgamated Bank grew its position 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 acquiring an additional 280 shares during the period. Prestige Wealth Management Group LLC boosted its holdings in Affirm by 78.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company's stock worth $46,000 after buying an additional 332 shares during the period. M&T Bank Corp boosted its holdings in Affirm by 1.9% in the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company's stock worth $968,000 after buying an additional 389 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Affirm by 10.0% in the 1st quarter. GAMMA Investing LLC now owns 4,596 shares of the company's stock worth $208,000 after buying an additional 419 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Stock Up 1.6%

Shares of NASDAQ AFRM traded up $1.06 during midday trading on Wednesday, hitting $67.21. The stock had a trading volume of 4,938,116 shares, compared to its average volume of 8,335,154. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The business's 50 day moving average is $59.41 and its 200-day moving average is $56.54. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a market cap of $21.68 billion, a P/E ratio of -320.05, a PEG ratio of 2.29 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share 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 company earned ($0.43) earnings per share. The firm's quarterly revenue was up 35.9% on a year-over-year basis. As a group, analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AFRM shares. Needham & Company LLC reiterated a "hold" rating on shares of Affirm in a research note on Wednesday, July 2nd. BTIG Research cut shares of Affirm from a "buy" rating to a "neutral" rating in a research report on Monday. UBS Group decreased their target price on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada boosted their price objective on shares of Affirm from $70.00 to $75.00 and gave the company a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Morgan Stanley decreased their price objective on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Ten investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $65.90.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the company's stock in a transaction that occurred 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 approximately $2,221,207.42. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O'hare sold 19,802 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $70.03, for a total transaction of $1,386,734.06. The disclosure for this sale can be found here. Insiders sold 96,247 shares of company stock valued at $6,422,823 in the last quarter. Insiders own 11.82% of the company's stock.

About Affirm

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.