Affirm Holdings, Inc. (NASDAQ:AFRM) Holdings Trimmed by Cim Investment Management Inc.

Cim Investment Management Inc. reduced its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 17,939 shares of the company’s stock after selling 473 shares during the period. Cim Investment Management Inc.’s holdings in Affirm were worth $732,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AFRM. Spyglass Capital Management LLC lifted its stake in Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Affirm in the 2nd quarter valued at $45,219,000. Bank of New York Mellon Corp lifted its stake 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 valued at $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Affirm during the third quarter worth $30,808,000. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other Affirm news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the transaction, the president now directly owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction dated 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 sale, the insider now directly owns 93,545 shares in the company, valued at approximately $5,149,652.25. The trade was a 68.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 970,665 shares of company stock worth $59,967,781 over the last quarter. 12.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. JPMorgan Chase & Co. upped their price objective on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Mizuho lifted their target price on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Wells Fargo & Company lifted their price objective on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, The Goldman Sachs Group increased their price target on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Affirm presently has an average rating of “Hold” and an average price target of $55.33.

Affirm Trading Up 0.4 %

NASDAQ:AFRM traded up $0.26 during trading hours on Thursday, reaching $70.19. 766,293 shares of the stock were exchanged, compared to its average volume of 8,980,506. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The company has a market capitalization of $22.04 billion, a price-to-earnings ratio of -49.25 and a beta of 3.66. The business has a 50-day moving average of $53.74 and a two-hundred day moving average of $40.10. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $72.82.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted ($0.57) EPS. On average, equities analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

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.