Raymond James Financial Inc. Makes New $14.59 Million Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Raymond James Financial Inc. bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 239,594 shares of the company’s stock, valued at approximately $14,591,000.

A number of other institutional investors also recently modified their holdings of AFRM. Oppenheimer Asset Management Inc. boosted its position in shares of Affirm by 10.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,902 shares of the company’s stock valued at $1,016,000 after acquiring an additional 2,432 shares during the period. Oppenheimer & Co. Inc. acquired a new position in Affirm in the third quarter valued at about $1,419,000. KBC Group NV raised its stake in Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock valued at $258,000 after purchasing an additional 222 shares in the last quarter. CIBC Asset Management Inc raised its stake in Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock valued at $307,000 after purchasing an additional 233 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in Affirm in the third quarter valued at about $759,000. Institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In other Affirm news, CFO Robert O’hare sold 6,541 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at approximately $184,535.64. This represents a 68.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Keith Rabois sold 16,086 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now owns 77,608 shares in the company, valued at $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,801 shares of company stock worth $3,806,093 over the last ninety days. Insiders own 12.41% of the company’s stock.

Affirm Stock Performance

Shares of AFRM stock opened at $43.70 on Wednesday. The business’s 50 day simple moving average is $61.22 and its 200 day simple moving average is $56.00. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53. The stock has a market capitalization of $13.90 billion, a PE ratio of -67.23 and a beta of 3.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, February 7th. Mizuho boosted their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price for the company. in a research note on Tuesday, January 21st. Compass Point raised Affirm from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $20.00 to $61.00 in a research note on Tuesday, January 28th. Finally, Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and boosted their target price for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and an average target price of $68.24.

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.