CIBC Asset Management Inc Acquires 422 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

CIBC Asset Management Inc boosted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,942 shares of the company’s stock after purchasing an additional 422 shares during the period. CIBC Asset Management Inc’s holdings in Affirm were worth $484,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Geneos Wealth Management Inc. boosted its position in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the period. R Squared Ltd bought a new position in Affirm during the 4th quarter valued at approximately $33,000. Advisors Asset Management Inc. lifted its holdings in 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 buying an additional 671 shares during the period. Venturi Wealth Management LLC grew its position 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 buying an additional 732 shares during the last quarter. Finally, Valley National Advisers Inc. purchased a new position in shares of Affirm during the fourth quarter valued at approximately $61,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Down 8.1 %

NASDAQ:AFRM opened at $68.55 on Monday. The stock has a market cap of $21.80 billion, a price-to-earnings ratio of -105.46 and a beta of 3.66. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The company’s 50 day moving average price is $64.62 and its 200-day moving average price is $53.08.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on AFRM. The Goldman Sachs Group lifted their price target on shares of Affirm from $78.00 to $90.00 and gave the company a “buy” rating in a report on Monday, February 10th. Bank of America boosted their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. JMP Securities raised their price objective on shares of Affirm from $78.00 to $85.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. JPMorgan Chase & Co. upped their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, William Blair started coverage on Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating for the company. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.24.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 13,965 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $68.57, for a total value of $957,580.05. Following the transaction, the chief financial officer now owns 668 shares of the company’s stock, valued at approximately $45,804.76. This represents a 95.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Libor Michalek sold 2,847 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $70.00, for a total value of $199,290.00. Following the sale, the president now owns 159,449 shares of the company’s stock, valued at approximately $11,161,430. This represents a 1.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 579,111 shares of company stock worth $40,020,081. 12.41% of the stock is 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.