Amalgamated Bank Grows Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Amalgamated Bank raised its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 13,493 shares of the company’s stock after purchasing an additional 1,432 shares during the quarter. Amalgamated Bank’s holdings in Affirm were worth $822,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in AFRM. Bank of New York Mellon Corp raised its holdings in Affirm by 0.6% in the fourth quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after acquiring an additional 5,169 shares in the last quarter. IFP Advisors Inc increased its position in shares of Affirm by 47.2% in the 4th quarter. IFP Advisors Inc now owns 3,438 shares of the company’s stock valued at $212,000 after purchasing an additional 1,103 shares during the last quarter. Y Intercept Hong Kong Ltd raised its holdings in shares of Affirm by 46.9% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 58,215 shares of the company’s stock valued at $3,545,000 after purchasing an additional 18,577 shares in the last quarter. Paradigm Asset Management Co. LLC purchased a new stake in shares of Affirm during the 4th quarter worth $286,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of Affirm during the fourth quarter worth $224,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity

In related news, President Libor Michalek sold 93,371 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $72.00, for a total value of $6,722,712.00. Following the completion of the sale, the president now owns 160,601 shares in the company, valued at $11,563,272. This trade represents a 36.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $72.05, for a total value of $180,125.00. Following the transaction, the director now owns 41,497 shares in the company, valued at $2,989,858.85. The trade was a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 555,670 shares of company stock valued at $38,385,393 over the last quarter. Corporate insiders own 12.41% of the company’s stock.

Affirm Stock Down 3.6 %

Affirm stock opened at $61.86 on Tuesday. The stock has a 50 day moving average of $64.26 and a two-hundred day moving average of $54.67. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The stock has a market capitalization of $19.67 billion, a price-to-earnings ratio of -95.17 and a beta of 3.66. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping 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 expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on AFRM. Morgan Stanley raised their price target on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. Citizens Jmp upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. UBS Group upped their price target on Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group raised their price objective on shares of Affirm from $78.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.24.

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.