Summit Trail Advisors LLC Increases Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Summit Trail Advisors LLC boosted its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 57.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,979 shares of the company’s stock after acquiring an additional 3,641 shares during the quarter. Summit Trail Advisors LLC’s holdings in Affirm were worth $608,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Holocene Advisors LP purchased a new stake in Affirm during the 3rd quarter worth $27,872,000. Charles Schwab Investment Management Inc. increased its position in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares during the last quarter. Bank of Montreal Can boosted its holdings in Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after purchasing an additional 528,400 shares during the last quarter. Atreides Management LP acquired a new stake in Affirm during the 3rd quarter valued at approximately $20,404,000. Finally, Quadrature Capital Ltd increased its holdings in Affirm by 214.4% during the 3rd quarter. Quadrature Capital Ltd now owns 485,431 shares of the company’s stock worth $19,820,000 after purchasing an additional 331,042 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on AFRM shares. Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. The Goldman Sachs Group raised their price objective on shares of Affirm from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday. Mizuho increased their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Bank of America boosted their price objective on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Morgan Stanley upped their price objective on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Affirm has an average rating of “Moderate Buy” and a consensus target price of $70.24.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 16,086 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the transaction, the director now directly owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was 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 directly owns 159,449 shares in the company, valued at $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,038,626 shares of company stock worth $70,690,871. 12.41% of the stock is owned by company insiders.

Affirm Stock Up 0.3 %

AFRM stock opened at $78.02 on Wednesday. The stock has a market cap of $24.50 billion, a PE ratio of -120.03 and a beta of 3.66. The firm’s 50-day simple moving average is $63.42 and its 200 day simple moving average is $50.20. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $79.67. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.29% and a negative net margin of 7.10%. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -0.59 EPS 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.