Rakuten Securities Inc. Takes Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Rakuten Securities Inc. acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 21,436 shares of the company’s stock, valued at approximately $1,053,000. Affirm makes up about 0.8% of Rakuten Securities Inc.’s investment portfolio, making the stock its 24th largest position.

Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates boosted its position in Affirm by 8.8% during the 1st quarter. Raymond James & Associates now owns 49,667 shares of the company’s stock valued at $2,299,000 after acquiring an additional 4,005 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Affirm by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 633,650 shares of the company’s stock valued at $29,324,000 after purchasing an additional 14,841 shares during the last quarter. HighTower Advisors LLC raised its holdings in Affirm by 21.5% in the first quarter. HighTower Advisors LLC now owns 35,644 shares of the company’s stock worth $1,650,000 after purchasing an additional 6,304 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Affirm by 159.6% during the first quarter. Cetera Advisor Networks LLC now owns 9,354 shares of the company’s stock valued at $433,000 after buying an additional 5,751 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Affirm by 48.3% in the 1st quarter. PNC Financial Services Group Inc. now owns 9,533 shares of the company’s stock valued at $441,000 after buying an additional 3,103 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded up $0.13 during trading on Wednesday, hitting $31.05. 1,880,854 shares of the stock traded hands, compared to its average volume of 9,685,035. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The company has a fifty day moving average price of $37.00 and a two-hundred day moving average price of $34.48. Affirm Holdings, Inc. has a 52-week low of $8.80 and a 52-week high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The company had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. On average, analysts predict that Affirm Holdings, Inc. will post -2.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on AFRM shares. Stephens increased their price objective on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Needham & Company LLC assumed coverage on shares of Affirm in a report on Wednesday, April 3rd. They set a “hold” rating on the stock. Royal Bank of Canada lifted their target price on shares of Affirm from $26.00 to $50.00 and gave the stock a “sector perform” rating in a research note on Friday, February 9th. BMO Capital Markets upped their price target on shares of Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Six research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Affirm has a consensus rating of “Hold” and an average price target of $27.86.

Insider Activity at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total transaction of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares in the company, valued at approximately $2,701,403.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 13.05% 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.