Oppenheimer Asset Management Inc. Decreases Position in Affirm Holdings, Inc. $AFRM

Oppenheimer Asset Management Inc. trimmed its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 47.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,169 shares of the company’s stock after selling 11,058 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Affirm were worth $889,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Huntington National Bank increased its position in Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after acquiring an additional 336 shares during the last quarter. Mather Group LLC. purchased a new position in shares of Affirm during the 3rd quarter worth about $29,000. SouthState Corp grew its holdings in Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Blume Capital Management Inc. raised its position in Affirm by 468.8% in the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after purchasing an additional 375 shares during the period. Finally, Quent Capital LLC purchased a new stake in Affirm in the 3rd quarter worth about $43,000. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $109,440. The trade was a 96.38% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 711,256 shares of company stock valued at $57,231,923 in the last three months. 11.01% of the stock is currently owned by insiders.

Analyst Ratings Changes

AFRM has been the topic of a number of analyst reports. Royal Bank Of Canada cut their target price on Affirm from $87.00 to $77.00 and set a “sector perform” rating on the stock in a research note on Friday, February 6th. Mizuho cut their price objective on Affirm from $114.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Evercore reiterated an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. Bank of America boosted their target price on shares of Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Finally, Stephens reduced their price target on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.67.

Affirm Stock Up 0.1%

NASDAQ:AFRM opened at $49.81 on Friday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00. The company has a 50-day moving average of $70.16 and a 200 day moving average of $73.81. The firm has a market cap of $16.59 billion, a PE ratio of 61.49, a price-to-earnings-growth ratio of 1.86 and a beta of 3.56.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter last year, the firm posted $0.23 EPS. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Affirm Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.