Ensign Peak Advisors Inc Sells 44,520 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Posted by Defense World Staff on Mar 10th, 2023

Ensign Peak Advisors Inc cut its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 27.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 120,084 shares of the company’s stock after selling 44,520 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Affirm were worth $2,252,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AFRM. Raymond James & Associates boosted its stake in Affirm by 8.8% in the first 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 during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Affirm by 2.4% during the first quarter. Bank of New York Mellon Corp now owns 633,650 shares of the company’s stock worth $29,324,000 after purchasing an additional 14,841 shares in the last quarter. HighTower Advisors LLC boosted its position in shares of Affirm by 21.5% during 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 boosted 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 worth $433,000 after purchasing an additional 5,751 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of Affirm by 48.3% during the first quarter. PNC Financial Services Group Inc. now owns 9,533 shares of the company’s stock worth $441,000 after purchasing an additional 3,103 shares in the last quarter. 67.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AFRM shares. Barclays reduced their price target on shares of Affirm from $29.00 to $16.00 and set an “overweight” rating on the stock in a research report on Thursday, November 10th. JPMorgan Chase & Co. reduced their price target on shares of Affirm from $19.00 to $16.00 and set a “neutral” rating on the stock in a research report on Thursday, February 9th. Wedbush restated an “underperform” rating and set a $10.00 price objective on shares of Affirm in a report on Thursday, February 9th. Mizuho dropped their price objective on shares of Affirm from $20.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, February 9th. Finally, The Goldman Sachs Group dropped their price objective on shares of Affirm from $22.50 to $14.50 and set a “neutral” rating on the stock in a report on Thursday, February 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Affirm currently has a consensus rating of “Hold” and an average target price of $18.25.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 17,287 shares of the business’s stock in a transaction dated Wednesday, February 1st. The shares were sold at an average price of $16.71, for a total transaction of $288,865.77. Following the transaction, the director now directly owns 34,573 shares in the company, valued at approximately $577,714.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 51,861 shares of company stock worth $668,315 in the last ninety days. Insiders own 12.11% of the company’s stock.

Affirm Stock Down 6.8 %

Shares of AFRM stock opened at $11.31 on Friday. The firm has a market capitalization of $3.33 billion, a P/E ratio of -4.04 and a beta of 3.29. The firm’s fifty day moving average price is $13.29 and its two-hundred day moving average price is $16.18. Affirm Holdings, Inc. has a 1 year low of $8.62 and a 1 year high of $51.49. The company has a current ratio of 11.40, a quick ratio of 11.40 and a debt-to-equity ratio of 2.01.

Affirm (NASDAQ:AFRM – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($1.00) by ($0.10). The firm had revenue of $399.56 million for the quarter, compared to analyst estimates of $416.33 million. Affirm had a negative return on equity of 31.74% and a negative net margin of 55.05%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. On average, equities analysts predict that Affirm Holdings, Inc. will post -3.69 EPS for the current fiscal year.

Affirm Company Profile

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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 from one to sixty months.