Alta Wealth Advisors LLC Purchases Shares of 13,937 Affirm Holdings, Inc. $AFRM

Alta Wealth Advisors LLC bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,937 shares of the company’s stock, valued at approximately $1,019,000.

A number of other hedge funds have also recently modified their holdings of AFRM. Norges Bank acquired a new stake in shares of Affirm in the second quarter valued at approximately $183,475,000. Atreides Management LP raised its position in Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Vanguard Group Inc. boosted its stake in Affirm by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock worth $1,672,898,000 after purchasing an additional 922,813 shares during the period. Foxhaven Asset Management LP boosted its stake in Affirm by 39.1% during the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company’s stock worth $200,292,000 after purchasing an additional 814,951 shares during the period. Finally, Durable Capital Partners LP grew its position in Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after purchasing an additional 808,455 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Affirm

In other Affirm news, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 711,256 shares of company stock worth $57,231,923 over the last three months. Corporate insiders own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

AFRM has been the subject of a number of recent research reports. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Redburn Partners set a $101.00 target price on Affirm in a report on Monday, October 6th. Wells Fargo & Company began coverage on Affirm in a research note on Tuesday, October 21st. They set an “overweight” rating and a $89.00 price target for the company. The Goldman Sachs Group lowered their price objective on shares of Affirm from $105.00 to $94.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Evercore ISI reissued an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and an average target price of $89.00.

Affirm Price Performance

Affirm stock opened at $68.71 on Tuesday. The firm has a market capitalization of $22.68 billion, a PE ratio of 102.55, a P/E/G ratio of 3.23 and a beta of 3.57. Affirm Holdings, Inc. has a 52 week low of $30.90 and a 52 week high of $100.00. The firm’s 50-day simple moving average is $72.39 and its 200 day simple moving average is $74.56. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 2.40.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. The business had revenue of $933.34 million for the quarter, compared to the consensus estimate of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The business’s revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.31) earnings per share. On average, equities research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Affirm 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.