Sumitomo Mitsui Trust Holdings Inc. lowered its position in Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 7.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 469,052 shares of the company’s stock after selling 39,013 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.16% of Affirm worth $8,799,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of AFRM. Raymond James & Associates grew its holdings in shares of Affirm by 8.8% in the first quarter. Raymond James & Associates now owns 49,667 shares of the company’s stock worth $2,299,000 after acquiring an additional 4,005 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Affirm by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 633,650 shares of the company’s stock worth $29,324,000 after acquiring an additional 14,841 shares during the period. HighTower Advisors LLC grew its holdings in shares of Affirm by 21.5% in the first quarter. HighTower Advisors LLC now owns 35,644 shares of the company’s stock worth $1,650,000 after acquiring an additional 6,304 shares during the period. Cetera Advisor Networks LLC grew its holdings in Affirm by 159.6% during the first quarter. Cetera Advisor Networks LLC now owns 9,354 shares of the company’s stock valued at $433,000 after purchasing an additional 5,751 shares during the period. Finally, PNC Financial Services Group Inc. grew its holdings in Affirm by 48.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,533 shares of the company’s stock valued at $441,000 after purchasing an additional 3,103 shares during the period. Institutional investors own 67.49% of the company’s stock.
Analysts Set New Price Targets
Several research firms have issued reports on AFRM. UBS Group began coverage on Affirm in a report on Tuesday, November 29th. They set a “neutral” rating and a $14.00 price target for the company. DA Davidson cut their price target on Affirm from $50.00 to $32.00 in a report on Thursday, November 10th. Wedbush cut their price target on Affirm from $15.00 to $10.00 in a report on Wednesday, November 9th. Bank of America lowered Affirm from a “buy” rating to a “neutral” rating and cut their price target for the company from $32.00 to $13.00 in a report on Tuesday, December 13th. Finally, Piper Sandler cut their price target on Affirm from $22.00 to $16.00 and set a “neutral” rating for the company in a report on Thursday, December 15th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.79.
Insiders Place Their Bets
Affirm Trading Down 1.4 %
Shares of AFRM opened at $9.06 on Friday. The company’s fifty day moving average is $12.85 and its 200 day moving average is $20.18. Affirm Holdings, Inc. has a fifty-two week low of $8.62 and a fifty-two week high of $84.68. The stock has a market capitalization of $2.63 billion, a PE ratio of -4.03 and a beta of 2.82. The company has a debt-to-equity ratio of 1.68, a quick ratio of 11.41 and a current ratio of 11.41.
Affirm (NASDAQ:AFRM – Get Rating) last posted its quarterly earnings data on Tuesday, November 8th. The company reported ($0.86) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.04). The firm had revenue of $361.62 million for the quarter, compared to analysts’ expectations of $360.72 million. Affirm had a negative return on equity of 25.51% and a negative net margin of 45.24%. Sell-side analysts expect that Affirm Holdings, Inc. will post -3.48 earnings per share for the current fiscal year.
Affirm Profile
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 from one to sixty months.
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