Friedenthal Financial Acquires New Position in Affirm Holdings, Inc. $AFRM

Friedenthal Financial bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,855 shares of the company’s stock, valued at approximately $939,000.

A number of other institutional investors and hedge funds have also bought and sold shares of AFRM. Huntington National Bank raised its stake in shares of Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after acquiring an additional 336 shares in the last quarter. SouthState Corp grew its holdings in shares of Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Blume Capital Management Inc. grew its holdings in shares of Affirm by 468.8% during the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock valued at $31,000 after purchasing an additional 375 shares during the last quarter. UMB Bank n.a. raised its position in Affirm by 86.6% in the 2nd quarter. UMB Bank n.a. now owns 569 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares during the period. Finally, Allworth Financial LP lifted its stake in Affirm by 41.9% in the second quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after purchasing an additional 236 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Robert O’hare sold 8,189 shares of Affirm stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total value of $573,230.00. Following the sale, the chief financial officer owned 1,368 shares in the company, valued at $95,760. The trade was a 85.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 11.01% of the stock is owned by insiders.

Affirm Stock Down 3.7%

Shares of NASDAQ:AFRM opened at $75.64 on Wednesday. The stock’s 50-day moving average is $70.96 and its 200 day moving average is $72.78. The company has a market cap of $24.97 billion, a PE ratio of 112.90, a P/E/G ratio of 3.57 and a beta of 3.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. Affirm Holdings, Inc. has a 1 year low of $30.90 and a 1 year high of $100.00.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. During the same period last year, the company earned ($0.31) EPS. The business’s quarterly revenue was up 33.6% compared to the same quarter last year. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on AFRM shares. Wolfe Research initiated coverage on Affirm in a research note on Tuesday, December 9th. They set a “peer perform” rating on the stock. JPMorgan Chase & Co. increased their target price on Affirm from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Friday, August 29th. Evercore ISI restated an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Finally, Rothschild & Co Redburn raised Affirm from a “neutral” rating to a “buy” rating and increased their price objective for the company from $74.00 to $101.00 in a research note on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.