Oppenheimer & Co. Inc. Buys New Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Oppenheimer & Co. Inc. bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, HoldingsChannel.com reports. The firm bought 34,758 shares of the company’s stock, valued at approximately $1,419,000.

A number of other hedge funds also recently bought and sold shares of AFRM. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new position in Affirm during the 2nd quarter valued at $27,000. Venturi Wealth Management LLC boosted its holdings in Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares during the period. Allspring Global Investments Holdings LLC grew its position in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the last quarter. Finally, ORG Partners LLC increased its holdings 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 purchasing an additional 551 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Affirm Price Performance

Affirm stock opened at $62.06 on Tuesday. The business’s fifty day moving average is $44.96 and its two-hundred day moving average is $35.90. 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 firm has a market cap of $19.49 billion, a P/E ratio of -43.70 and a beta of 3.47. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $62.88.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the prior year, the company earned ($0.57) EPS. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. The trade was a 9.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold 403,738 shares of company stock valued at $21,115,878 over the last three months. 12.41% of the stock is owned by insiders.

Analysts Set New Price Targets

AFRM has been the subject of several research reports. Susquehanna increased 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. The Goldman Sachs Group lifted their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their target price for the company from $25.00 to $45.00 in a research note on Monday, October 14th. Mizuho reiterated an “outperform” rating and set a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. Finally, Wells Fargo & Company increased their price objective on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Affirm presently has an average rating of “Hold” and an average target price of $46.62.

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.