NewEdge Advisors LLC Has $2.42 Million Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

NewEdge Advisors LLC lifted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 305.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,776 shares of the company’s stock after purchasing an additional 29,961 shares during the quarter. NewEdge Advisors LLC’s holdings in Affirm were worth $2,422,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in shares of Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares in the last quarter. R Squared Ltd acquired a new position in Affirm in the fourth quarter worth about $33,000. Creative Financial Designs Inc. ADV lifted its stake in Affirm by 640.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company’s stock worth $45,000 after purchasing an additional 640 shares during the period. Prestige Wealth Management Group LLC lifted its stake in Affirm by 78.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock worth $46,000 after purchasing an additional 332 shares during the period. Finally, Valley National Advisers Inc. bought a new stake in shares of Affirm in the 4th quarter valued at approximately $61,000. 69.29% of the stock is owned by institutional investors.

Affirm Stock Down 3.4 %

NASDAQ:AFRM opened at $40.65 on Tuesday. The stock’s fifty day simple moving average is $52.14 and its 200-day simple moving average is $56.26. The firm has a market capitalization of $12.93 billion, a P/E ratio of -62.54 and a beta of 3.68. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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%. Equities research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on AFRM. William Blair started coverage on Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating for the company. Evercore ISI initiated coverage on shares of Affirm in a report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 target price on the stock. UBS Group lifted their price target on shares of Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, February 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Affirm in a research note on Thursday, March 20th. Finally, Morgan Stanley lifted their target price on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Eight equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $66.74.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the transaction, the director now owns 61,520 shares in the company, valued at $3,935,434.40. This represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now directly owns 137,325 shares in the company, valued at $10,986,000. This represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,762 shares of company stock worth $3,241,246. Corporate insiders own 12.41% 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.