PNC Financial Services Group Inc. raised its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1,138.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,182 shares of the company’s stock after acquiring an additional 5,683 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Affirm were worth $737,000 at the end of the most recent reporting period.
A number of other large investors also recently made changes to their positions in AFRM. Northern Oak Wealth Management Inc. acquired a new position in Affirm in the second quarter valued at approximately $27,000. IFP Advisors Inc acquired a new position in Affirm in the third quarter valued at approximately $27,000. NEXT Financial Group Inc purchased a new stake in shares of Affirm in the third quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Affirm in the third quarter valued at approximately $32,000. Finally, SOA Wealth Advisors LLC. increased its position in shares of Affirm by 682.9% in the third quarter. SOA Wealth Advisors LLC. now owns 321 shares of the company’s stock valued at $38,000 after buying an additional 280 shares in the last quarter. 40.61% of the stock is owned by institutional investors.
Shares of AFRM opened at $69.19 on Friday. Affirm Holdings, Inc. has a 1-year low of $46.50 and a 1-year high of $176.65. The stock has a market cap of $19.44 billion and a PE ratio of -22.18. The firm has a 50-day simple moving average of $113.34 and a two-hundred day simple moving average of $103.21. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.54 and a quick ratio of 2.54.
A number of analysts have recently commented on the company. Mizuho cut their price objective on Affirm from $180.00 to $140.00 and set a “buy” rating for the company in a research report on Tuesday, December 14th. Truist Securities boosted their price target on Affirm from $150.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, November 11th. Credit Suisse Group boosted their price target on Affirm from $105.00 to $150.00 and gave the stock a “neutral” rating in a research report on Thursday, November 11th. Piper Sandler dropped their price target on Affirm from $127.00 to $108.00 in a research report on Thursday, December 23rd. Finally, Sumitomo Mitsui Financial Group assumed coverage on Affirm in a research report on Wednesday, November 3rd. They set an “outperform” rating and a $220.00 price target for the company. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Affirm has an average rating of “Hold” and a consensus price target of $138.13.
In related news, CFO Michael Linford sold 115,000 shares of Affirm stock in a transaction that occurred on Monday, November 1st. The shares were sold at an average price of $153.90, for a total value of $17,698,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jeremy Philips sold 10,968 shares of Affirm stock in a transaction that occurred on Monday, November 15th. The shares were sold at an average price of $150.00, for a total transaction of $1,645,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,768 shares of company stock valued at $26,645,962. Company insiders own 16.48% of the company’s stock.
Affirm Company Profile
Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.
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