Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Bought by Plato Investment Management Ltd

Plato Investment Management Ltd raised its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 255.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,328 shares of the company’s stock after purchasing an additional 954 shares during the period. Plato Investment Management Ltd’s holdings in Affirm were worth $49,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in AFRM. Norges Bank acquired a new stake in shares of Affirm in the fourth quarter worth approximately $67,310,000. Vanguard Group Inc. lifted its position in Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares in the last quarter. Leo Wealth LLC purchased a new position in Affirm during the fourth quarter worth approximately $57,647,000. Baillie Gifford & Co. lifted its position in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after buying an additional 749,368 shares in the last quarter. Finally, Jupiter Asset Management Ltd. purchased a new position in Affirm during the first quarter worth approximately $20,150,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on AFRM shares. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price objective on shares of Affirm in a research report on Monday, June 24th. BMO Capital Markets reduced their target price on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Mizuho restated a “buy” rating and issued a $65.00 target price on shares of Affirm in a research report on Thursday, June 20th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Finally, Bank of America upgraded Affirm from a “neutral” rating to a “buy” rating and set a $36.00 target price on the stock in a research report on Tuesday. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $32.85.

Insider Buying and Selling

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.89, for a total transaction of $277,259.64. Following the completion of the transaction, the director now directly owns 73,623 shares of the company’s stock, valued at approximately $2,200,591.47. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.05% of the stock is currently owned by insiders.

Affirm Stock Down 6.6 %

AFRM traded down $1.87 on Thursday, hitting $26.42. 6,938,237 shares of the company were exchanged, compared to its average volume of 8,252,560. Affirm Holdings, Inc. has a twelve month low of $13.67 and a twelve month high of $52.48. The company has a market cap of $8.17 billion, a price-to-earnings ratio of -11.85 and a beta of 3.45. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The firm has a 50-day moving average price of $29.99 and a two-hundred day moving average price of $34.28.

Affirm (NASDAQ:AFRM) last released its earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The firm had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. During the same period in the previous year, the firm posted ($0.69) EPS. Affirm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, equities analysts predict that Affirm Holdings, Inc. will post -1.98 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.