WealthTrak Capital Management LLC Buys New Shares in Affirm Holdings, Inc. (NASDAQ:AFRM)

WealthTrak Capital Management LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,110 shares of the company’s stock, valued at approximately $68,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Affirm by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock valued at $1,328,568,000 after buying an additional 716,574 shares in the last quarter. Spyglass Capital Management LLC lifted its position in shares of Affirm by 9.3% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after acquiring an additional 200,449 shares in the last quarter. Norges Bank acquired a new position in Affirm in the 4th quarter worth approximately $139,949,000. Charles Schwab Investment Management Inc. grew its position in Affirm by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock worth $138,368,000 after purchasing an additional 68,848 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after purchasing an additional 5,169 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insiders Place Their Bets

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. The trade was a 3.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Keith Rabois sold 16,086 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the completion of the sale, the director now directly owns 93,694 shares of the company’s stock, valued at $5,839,010.08. This represents a 14.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock valued at $3,920,543 in the last quarter. Insiders own 12.41% of the company’s stock.

Affirm Stock Down 2.5 %

Shares of AFRM stock opened at $46.20 on Friday. The stock’s 50 day simple moving average is $59.90 and its 200 day simple moving average is $56.26. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The company has a market capitalization of $14.69 billion, a price-to-earnings ratio of -71.08 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. UBS Group raised their target price on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. BMO Capital Markets restated an “outperform” rating and set a $69.00 price objective on shares of Affirm in a research report on Thursday, March 20th. Royal Bank of Canada upped their target price on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a report on Friday, February 7th. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and raised their price target for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. Finally, The Goldman Sachs Group lowered their price objective on shares of Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Eight analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and an average target price of $69.76.

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.