Institute for Wealth Management LLC. Invests $411,000 in Affirm Holdings, Inc. (NASDAQ:AFRM)

Institute for Wealth Management LLC. acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, Holdings Channel.com reports. The fund acquired 6,751 shares of the company’s stock, valued at approximately $411,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Wealth Partners LLC acquired a new stake in Affirm during the 3rd quarter valued at approximately $29,000. Geneos Wealth Management Inc. lifted its holdings in shares of Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares in the last quarter. R Squared Ltd bought a new position in shares of Affirm in the 4th quarter worth $33,000. Advisors Asset Management Inc. lifted its holdings in shares of Affirm by 168.2% in 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 in the last quarter. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 target price on shares of Affirm in a research report on Friday, October 4th. Barclays lifted their price objective on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Compass Point raised Affirm from a “sell” rating to a “neutral” rating and lifted their target price for the company from $20.00 to $61.00 in a report on Tuesday. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $62.88.

Affirm Stock Down 1.7 %

Shares of AFRM opened at $61.07 on Friday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $73.34. The business’s 50 day moving average is $63.55 and its 200 day moving average is $48.04. The company has a market capitalization of $19.18 billion, a PE ratio of -43.01 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the previous year, the company posted ($0.57) EPS. Research analysts expect that Affirm Holdings, Inc. will post -0.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now owns 85,420 shares in the company, valued at approximately $5,893,125.80. The trade was a 82.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total value of $407,373.48. Following the completion of the transaction, the chief financial officer now owns 2,963 shares of the company’s stock, valued at approximately $184,535.64. This trade represents a 68.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,323,478 shares of company stock valued at $86,285,371 in the last quarter. 12.41% of the stock is currently owned by insiders.

Affirm 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.