Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 43.6% during the third quarter, HoldingsChannel.com reports. The firm owned 4,355 shares of the company’s stock after selling 3,370 shares during the period. Daiwa Securities Group Inc.’s holdings in Affirm were worth $178,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bank of Montreal Can grew its position in Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock worth $6,466,000 after purchasing an additional 187,790 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Affirm during the third quarter worth $1,419,000. International Assets Investment Management LLC purchased a new stake in shares of Affirm during the third quarter valued at $731,000. Quest Partners LLC acquired a new position in shares of Affirm in the 3rd quarter valued at $391,000. Finally, Entropy Technologies LP purchased a new position in Affirm in the 3rd quarter worth $464,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insiders Place Their Bets

In related news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the sale, the president now owns 159,449 shares of the company’s stock, valued at approximately $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 868,253 shares of company stock valued at $52,186,668. Insiders own 12.41% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Mizuho boosted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Bank of America lifted their price objective on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Barclays boosted their target price on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $52.53.

Affirm Price Performance

Shares of Affirm stock opened at $70.01 on Monday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The business has a 50 day simple moving average of $49.29 and a two-hundred day simple moving average of $37.98. The stock has a market capitalization of $21.99 billion, a P/E ratio of -49.30 and a beta of 3.47. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $70.88.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analyst estimates 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 firm earned ($0.57) earnings per share. As a group, analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal 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.