Sowell Financial Services LLC Buys New Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Sowell Financial Services LLC bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 4,987 shares of the company's stock, valued at approximately $225,000.

Several other institutional investors and hedge funds have also bought and sold shares of AFRM. Itau Unibanco Holding S.A. acquired a new position in shares of Affirm during the fourth quarter valued at about $28,000. Coppell Advisory Solutions LLC purchased a new stake in Affirm during the 4th quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL acquired a new position in Affirm during the 4th quarter valued at approximately $43,000. Creative Financial Designs Inc. ADV raised its holdings in shares of Affirm by 640.0% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company's stock worth $45,000 after buying an additional 640 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its holdings in shares of Affirm by 78.1% in the fourth 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 last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Trading Up 0.6%

AFRM stock opened at $62.06 on Monday. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. 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 firm has a market cap of $20.02 billion, a P/E ratio of -295.52, a PEG ratio of 127.78 and a beta of 3.58. The company's 50-day simple moving average is $52.04 and its 200-day simple moving average is $56.42.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly 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 company had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. Affirm's quarterly revenue was up 35.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.43) EPS. As a group, equities analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Wells Fargo & Company dropped their price objective on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Evercore ISI began coverage on Affirm in a research report on Wednesday, April 9th. They set an "outperform" rating and a $50.00 price target for the company. Bank of America boosted their price target on Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Barclays restated an "overweight" rating and issued a $67.00 price objective (up from $53.00) on shares of Affirm in a research note on Monday, June 9th. Finally, BMO Capital Markets reiterated an "outperform" rating and issued a $69.00 target price on shares of Affirm in a research report on Thursday, March 20th. Nine 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 stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $65.05.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business'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 transaction of $152,150.00. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total value of $730,556.08. Following the transaction, the director now directly owns 45,432 shares of the company's stock, valued at $2,063,067.12. The trade was a 26.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,677 shares of company stock worth $1,703,245 in the last quarter. Corporate insiders own 11.82% of the company's stock.

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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