Raymond James Financial Inc. Purchases New Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Raymond James Financial Inc. bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 4th quarter, Holdings Channel.com reports. The institutional investor bought 239,594 shares of the company’s stock, valued at approximately $14,591,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AFRM. Stifel Financial Corp purchased a new stake in shares of Affirm in the third quarter valued at $228,000. Tidal Investments LLC increased its stake in shares of Affirm by 208.6% during the third quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after buying an additional 14,720 shares during the period. Lord Abbett & CO. LLC purchased a new position in Affirm during the third quarter valued at approximately $2,644,000. Versant Capital Management Inc boosted its position in Affirm by 20.8% during the 4th quarter. Versant Capital Management Inc now owns 3,405 shares of the company’s stock valued at $207,000 after acquiring an additional 586 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Affirm by 21.5% in the 4th quarter. GAMMA Investing LLC now owns 4,177 shares of the company’s stock worth $254,000 after buying an additional 738 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Price Performance

Affirm stock opened at $40.65 on Tuesday. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a market cap of $12.93 billion, a P/E ratio of -62.54 and a beta of 3.68. The company has a 50-day moving average price of $52.14 and a 200 day moving average price of $56.26. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $82.53.

Affirm (NASDAQ:AFRM) last announced its quarterly 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%. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on AFRM shares. William Blair initiated coverage on Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating on the stock. TD Cowen initiated coverage on Affirm in a research report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price on the stock. Wells Fargo & Company reduced their price objective on Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Susquehanna lowered shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research note on Tuesday, January 21st. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $66.74.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $60.12, for a total transaction of $967,090.32. Following the sale, the director now owns 77,608 shares in the company, valued at $4,665,792.96. This trade represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,762 shares of company stock worth $3,241,246. 12.41% of the stock is currently owned by insiders.

About Affirm

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.