Brooklyn Investment Group Acquires New Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Brooklyn Investment Group acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 1,922 shares of the company’s stock, valued at approximately $78,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC acquired a new position in Affirm during the third quarter valued at approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of Affirm in the second quarter worth $27,000. Advisors Asset Management Inc. grew its stake in shares of Affirm by 168.2% in the third quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares during the last quarter. Venturi Wealth Management LLC grew its stake in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after acquiring an additional 732 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Activity

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 SEC, which is accessible through the SEC website. Also, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.05, for a total value of $11,010,000.00. Following the transaction, the insider now owns 93,545 shares in the company, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 868,253 shares of company stock worth $52,186,668. Corporate insiders own 12.41% of the company’s stock.

Affirm Trading Up 3.2 %

NASDAQ AFRM opened at $68.37 on Friday. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of -48.15 and a beta of 3.47. The stock’s 50 day moving average price is $48.32 and its two-hundred day moving average price is $37.47. 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 Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $70.20.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same period in the previous year, the firm earned ($0.57) EPS. As a group, analysts anticipate that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on AFRM shares. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Susquehanna lifted their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. Wells Fargo & Company lifted their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Barclays lifted their price objective on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $52.53.

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.