Handelsbanken Fonder AB Sells 3,200 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Handelsbanken Fonder AB lowered its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.1% during the 4th quarter, HoldingsChannel reports. The fund owned 59,000 shares of the company’s stock after selling 3,200 shares during the period. Handelsbanken Fonder AB’s holdings in Affirm were worth $3,593,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its holdings in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares in the last quarter. R Squared Ltd purchased a new position in shares of Affirm during the 4th quarter valued at approximately $33,000. Bogart Wealth LLC purchased a new stake in Affirm in the 4th quarter worth $61,000. Valley National Advisers Inc. acquired a new stake in Affirm during the 4th quarter worth $61,000. Finally, Advisors Asset Management Inc. boosted its stake in Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity

In other news, COO Michael Linford sold 400,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the transaction, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at approximately $5,893,125.80. This trade represents a 82.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. This represents a 3.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 579,111 shares of company stock worth $40,020,081. 12.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFRM. Mizuho boosted their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Morgan Stanley raised their price objective on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Barclays raised their target price on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. JMP Securities lifted their price objective on shares of Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and raised their target price for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Nine analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $70.24.

Affirm Stock Down 8.1 %

Shares of NASDAQ:AFRM opened at $68.55 on Monday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The stock has a market capitalization of $21.80 billion, a P/E ratio of -105.46 and a beta of 3.66. The stock has a 50-day simple moving average of $64.62 and a 200-day simple moving average of $53.08.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Equities analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

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.