HighTower Advisors LLC Has $2.57 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

HighTower Advisors LLC lifted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 37.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,811 shares of the company’s stock after acquiring an additional 17,153 shares during the period. HighTower Advisors LLC’s holdings in Affirm were worth $2,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in Affirm in the second quarter worth approximately $27,000. ORG Wealth Partners LLC acquired a new position in shares of Affirm during the 3rd quarter valued at $29,000. Allspring Global Investments Holdings LLC boosted its stake in Affirm by 82.4% during the second 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 holdings in Affirm by 80.0% in the second 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. Finally, Advisors Asset Management Inc. increased its stake in Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after purchasing an additional 671 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Trading Up 2.8 %

Shares of AFRM stock opened at $70.70 on Friday. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $72.82. The company has a 50-day simple moving average of $54.98 and a two-hundred day simple moving average of $40.58. 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 $22.20 billion, a price-to-earnings ratio of -49.79 and a beta of 3.66.

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

Insider Activity

In related news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now owns 122,069 shares in the company, valued at approximately $5,493,105. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.98, for a total transaction of $1,109,612.28. Following the completion of the sale, the director now directly owns 109,780 shares in the company, valued at approximately $7,572,624.40. This represents a 12.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,386,751 shares of company stock valued at $88,673,393 in the last ninety days. 12.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on AFRM. Barclays raised their target price on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Wells Fargo & Company raised their price objective on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Bank of America increased their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price target on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research note on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and an average target price of $55.33.

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.