Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Sold by Amalgamated Bank

Amalgamated Bank lowered its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 4.1% in the third quarter, HoldingsChannel.com reports. The firm owned 12,061 shares of the company’s stock after selling 521 shares during the period. Amalgamated Bank’s holdings in Affirm were worth $492,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of Montreal Can grew its stake in shares of Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after buying an additional 187,790 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Affirm in the 3rd quarter valued at about $731,000. Avantax Advisory Services Inc. purchased a new stake in Affirm during the first quarter worth about $258,000. Dragoneer Investment Group LLC acquired a new stake in shares of Affirm during the second quarter worth about $45,219,000. Finally, Diversify Advisory Services LLC boosted its stake in shares of Affirm by 17.5% in the third quarter. Diversify Advisory Services LLC now owns 107,379 shares of the company’s stock valued at $4,724,000 after purchasing an additional 15,993 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The trade was a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the 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 of the company’s stock, valued at $5,493,105. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 403,738 shares of company stock worth $21,115,878. 12.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AFRM has been the topic of a number of research reports. The Goldman Sachs Group increased their target price on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. JPMorgan Chase & Co. upped their target price on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $46.00 price target on shares of Affirm in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $46.03.

Affirm Stock Up 5.5 %

AFRM stock opened at $56.15 on Friday. The company has a market cap of $17.47 billion, a price-to-earnings ratio of -39.54 and a beta of 3.47. The company has a fifty day moving average price of $44.49 and a 200 day moving average price of $35.69. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $59.27.

Affirm (NASDAQ:AFRM) last announced its 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. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the company earned ($0.57) earnings per share. Sell-side analysts expect that Affirm Holdings, Inc. will post -0.6 earnings per share 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.