Zurcher Kantonalbank Zurich Cantonalbank Buys 8,826 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 17.8% during the third quarter, Holdings Channel.com reports. The fund owned 58,306 shares of the company’s stock after acquiring an additional 8,826 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Affirm were worth $2,380,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Ridgewood Investments LLC bought a new stake in Affirm during the 2nd quarter valued at approximately $27,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm during the third quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares in the last quarter. ORG Partners LLC boosted its position in shares of Affirm by 80.0% during the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Affirm by 168.2% during the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after acquiring an additional 671 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 13,965 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $68.57, for a total value of $957,580.05. Following the completion of the sale, the chief financial officer now owns 668 shares in the company, valued at approximately $45,804.76. The trade was a 95.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Libor Michalek sold 2,847 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $70.00, for a total value of $199,290.00. Following the transaction, the president now owns 159,449 shares in the company, valued at $11,161,430. The trade was a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 891,694 shares of company stock worth $53,821,357. Insiders own 12.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on AFRM. Susquehanna boosted their price target on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Mizuho increased their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. The Goldman Sachs Group increased their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $55.33.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $70.76 on Wednesday. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $72.10. The firm has a 50-day simple moving average of $49.76 and a two-hundred day simple moving average of $38.28. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the previous year, the business earned ($0.57) EPS. As a group, research analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS 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.