Global Wealth Strategies & Associates Grows Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Global Wealth Strategies & Associates boosted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 94.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 970 shares of the company’s stock after acquiring an additional 470 shares during the quarter. Global Wealth Strategies & Associates’ holdings in Affirm were worth $36,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of AFRM. Victory Capital Management Inc. grew its holdings in shares of Affirm by 7.5% in the third quarter. Victory Capital Management Inc. now owns 24,232 shares of the company’s stock worth $515,000 after purchasing an additional 1,694 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Affirm by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,298,330 shares of the company’s stock worth $27,615,000 after acquiring an additional 23,248 shares during the last quarter. Pathstone Family Office LLC purchased a new position in shares of Affirm in the third quarter valued at about $208,000. PNC Financial Services Group Inc. lifted its holdings in Affirm by 1.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 47,378 shares of the company’s stock worth $1,008,000 after buying an additional 793 shares during the period. Finally, QRG Capital Management Inc. bought a new stake in shares of Affirm in the 3rd quarter worth approximately $3,701,000. 69.29% of the stock is currently owned by institutional investors.

Insider Transactions at Affirm

In related news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the transaction, the director now owns 60,000 shares in the company, valued at approximately $1,927,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 13.05% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on AFRM shares. BTIG Research began coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. raised shares of Affirm from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. BMO Capital Markets decreased their price target on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a research note on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $43.00 price objective on shares of Affirm in a research report on Friday, May 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $29.09.

Affirm Stock Down 1.4 %

AFRM stock traded down $0.43 during midday trading on Tuesday, hitting $30.38. The company’s stock had a trading volume of 2,477,813 shares, compared to its average volume of 8,680,909. Affirm Holdings, Inc. has a 12 month low of $12.81 and a 12 month high of $52.48. The firm’s 50-day moving average is $31.99 and its 200-day moving average is $37.58. The company has a market cap of $9.39 billion, a PE ratio of -13.70 and a beta of 3.47. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The business had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. During the same period in the previous year, the business earned ($0.69) EPS. The company’s quarterly revenue was up 51.2% compared to the same quarter last year. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -1.98 earnings per share for the current fiscal year.

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.