Charles Schwab Investment Management Inc. Increases Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Charles Schwab Investment Management Inc. lifted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 44.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,203,210 shares of the company’s stock after purchasing an additional 672,883 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Affirm were worth $89,935,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new stake in Affirm in the second quarter valued at $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm during the 3rd quarter worth about $29,000. Allspring Global Investments Holdings LLC lifted 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 purchasing an additional 540 shares during the last quarter. ORG Partners LLC boosted its holdings in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares in the last quarter. 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 during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Down 4.4 %

AFRM opened at $66.27 on Wednesday. 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 $70.20. The stock has a market capitalization of $20.81 billion, a P/E ratio of -46.67 and a beta of 3.47. The business has a 50 day simple moving average of $47.39 and a 200-day simple moving average of $37.01.

Affirm (NASDAQ:AFRM) last released 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. 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 quarter last year, the company earned ($0.57) earnings per share. On average, equities analysts anticipate that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction dated Thursday, September 12th. The shares were 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 directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 868,253 shares of company stock worth $52,186,668. 12.41% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on AFRM shares. Bank of America upped their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Susquehanna raised their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Wells Fargo & Company lifted their target price on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $51.13.

Affirm Company 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 up to 60 months.