National Bank of Canada FI trimmed its position in Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 95.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,602 shares of the company's stock after selling 51,025 shares during the period. National Bank of Canada FI's holdings in Affirm were worth $120,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. grew its position in Affirm by 3.7% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 13,660 shares of the company's stock valued at $1,374,000 after buying an additional 487 shares during the last quarter. Ensign Peak Advisors Inc purchased a new position in Affirm in the 4th quarter valued at $10,435,000. Impax Asset Management Group plc purchased a new position in Affirm in the 4th quarter valued at $202,000. JustInvest LLC lifted its holdings in Affirm by 377.7% in the fourth quarter. JustInvest LLC now owns 9,940 shares of the company's stock valued at $1,000,000 after acquiring an additional 7,859 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Affirm in the fourth quarter valued at $1,318,000. 58.34% of the stock is currently owned by hedge funds and other institutional investors.
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Shares of AFRM stock opened at $36.97 on Friday. The firm has a 50-day moving average price of $23.97 and a 200 day moving average price of $33.15. Affirm Holdings, Inc. has a twelve month low of $13.64 and a twelve month high of $176.65. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of -15.60 and a beta of 3.67. The company has a current ratio of 9.36, a quick ratio of 9.36 and a debt-to-equity ratio of 1.59.
Affirm (NASDAQ:AFRM – Get Rating) last announced its earnings results on Thursday, May 12th. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.26. Affirm had a negative net margin of 52.07% and a negative return on equity of 18.00%. The firm had revenue of $354.80 million during the quarter, compared to the consensus estimate of $344.01 million. During the same quarter in the previous year, the company posted ($0.72) EPS. The firm's revenue for the quarter was up 53.8% on a year-over-year basis. Research analysts forecast that Affirm Holdings, Inc. will post -2.43 earnings per share for the current fiscal year.Analyst Upgrades and Downgrades
A number of equities research analysts have commented on AFRM shares. Deutsche Bank Aktiengesellschaft reduced their target price on Affirm from $70.00 to $35.00 in a report on Wednesday, May 4th. The Goldman Sachs Group started coverage on Affirm in a report on Sunday, July 10th. They issued a "neutral" rating and a $22.00 target price for the company. Piper Sandler reduced their target price on Affirm from $32.00 to $28.00 and set a "neutral" rating for the company in a report on Wednesday, June 29th. JPMorgan Chase & Co. initiated coverage on Affirm in a report on Wednesday, May 11th. They issued a "neutral" rating and a $30.00 target price for the company. Finally, Stephens downgraded Affirm from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $51.00 to $17.00 in a research note on Tuesday, May 10th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, Affirm currently has an average rating of "Hold" and an average price target of $51.33.
About Affirm
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Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.
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