DRW Securities LLC Purchases New Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

DRW Securities LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 3rd quarter, HoldingsChannel reports. The firm purchased 8,634 shares of the company’s stock, valued at approximately $352,000.

Several other large investors also recently added to or reduced their stakes in AFRM. Charles Schwab Investment Management Inc. lifted its stake in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC purchased a new stake in Affirm during the 2nd quarter valued at $45,219,000. Bank of New York Mellon Corp lifted its position in Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after buying an additional 176,675 shares during the last quarter. Artemis Investment Management LLP purchased a new position in Affirm during the third quarter worth $30,808,000. Finally, Swiss National Bank increased its position in Affirm by 0.9% during the third quarter. Swiss National Bank now owns 463,500 shares of the company’s stock valued at $18,920,000 after acquiring an additional 4,000 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

AFRM has been the subject of several analyst reports. Susquehanna raised their target price on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Bank of America raised their price objective on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group boosted their target price on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price target on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Finally, BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $51.13.

Affirm Trading Down 4.4 %

NASDAQ AFRM opened at $66.27 on Wednesday. The company’s 50-day simple moving average is $47.39 and its two-hundred day simple moving average is $37.01. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $70.20. The company has a market capitalization of $20.81 billion, a price-to-earnings ratio of -46.67 and a beta of 3.47. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period last year, the company posted ($0.57) earnings per share. Equities analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 868,253 shares of company stock worth $52,186,668 in the last three months. 12.41% of the stock is 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.