Oppenheimer Asset Management Inc. Acquires 2,432 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Oppenheimer Asset Management Inc. raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% in the 3rd quarter, Holdings Channel.com reports. The fund owned 24,902 shares of the company’s stock after buying an additional 2,432 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Affirm were worth $1,016,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Ridgewood Investments LLC bought a new position in shares of Affirm during the 2nd quarter worth approximately $27,000. ORG Wealth Partners LLC bought a new position in shares of Affirm during the 3rd quarter worth approximately $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares in the last quarter. ORG Partners LLC grew its stake in shares of Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AFRM has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on shares of Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Mizuho reissued an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research note on Tuesday, August 27th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and raised their target price for the company from $25.00 to $45.00 in a research note on Monday, October 14th. Susquehanna raised their target price on shares of Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. Finally, Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Affirm currently has an average rating of “Hold” and an average price target of $46.62.

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the business’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the transaction, the insider now directly owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 403,738 shares of company stock valued at $21,115,878. 12.41% of the stock is currently owned by corporate insiders.

Affirm Stock Up 10.5 %

AFRM opened at $62.06 on Tuesday. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $62.88. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company has a market capitalization of $19.49 billion, a P/E ratio of -43.70 and a beta of 3.47. The stock has a fifty day moving average of $44.96 and a 200-day moving average of $35.90.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping 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 the consensus estimate of $661.39 million. During the same quarter last year, the firm earned ($0.57) earnings per share. On average, equities analysts expect that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

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.