Vanguard Group Inc. Buys 769,843 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Vanguard Group Inc. boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 4.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 19,506,902 shares of the company’s stock after purchasing an additional 769,843 shares during the quarter. Vanguard Group Inc. owned approximately 0.06% of Affirm worth $958,569,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pathstone Family Office LLC acquired a new position in shares of Affirm during the third quarter valued at $208,000. PNC Financial Services Group Inc. lifted its position in Affirm by 1.7% during the 3rd quarter. PNC Financial Services Group Inc. now owns 47,378 shares of the company’s stock valued at $1,008,000 after purchasing an additional 793 shares during the period. EAM Investors LLC acquired a new position in Affirm during the 3rd quarter valued at about $1,349,000. Northern Trust Corp boosted its stake in shares of Affirm by 3.1% in the 3rd quarter. Northern Trust Corp now owns 1,002,905 shares of the company’s stock valued at $21,332,000 after purchasing an additional 30,552 shares during the last quarter. Finally, Algert Global LLC acquired a new stake in shares of Affirm during the 3rd quarter worth approximately $894,000. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on AFRM. BMO Capital Markets cut their price objective on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. BTIG Research assumed coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Barclays dropped their price objective on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a report on Tuesday, April 16th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $43.00 target price on shares of Affirm in a research note on Friday, May 24th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $31.28.

Affirm Trading Down 0.9 %

NASDAQ:AFRM opened at $29.87 on Friday. The business’s 50-day simple moving average is $31.76 and its 200-day simple moving average is $37.43. Affirm Holdings, Inc. has a fifty-two week low of $12.81 and a fifty-two week high of $52.48. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The stock has a market capitalization of $9.23 billion, a PE ratio of -13.30 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last announced its quarterly 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. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The business’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.69) earnings per share. Sell-side analysts expect that Affirm Holdings, Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of 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 is available through the SEC website. 13.05% of the stock is currently owned by insiders.

About Affirm

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.