Cravens & Co Advisors LLC Sells 1,349 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Cravens & Co Advisors LLC cut its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 9.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,363 shares of the company’s stock after selling 1,349 shares during the period. Cravens & Co Advisors LLC’s holdings in Affirm were worth $505,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Blueshift Asset Management LLC increased its position in Affirm by 171.8% in the third quarter. Blueshift Asset Management LLC now owns 70,862 shares of the company’s stock worth $2,893,000 after purchasing an additional 44,788 shares during the last quarter. Soros Capital Management LLC bought a new position in shares of Affirm in the 3rd quarter valued at about $4,572,000. Townsquare Capital LLC grew its position in Affirm by 26.3% in the third quarter. Townsquare Capital LLC now owns 108,451 shares of the company’s stock worth $4,427,000 after acquiring an additional 22,583 shares in the last quarter. Brooklyn Investment Group bought a new stake in Affirm during the third quarter worth approximately $78,000. Finally, Quantbot Technologies LP lifted its stake in shares of Affirm by 21.3% in the 3rd quarter. Quantbot Technologies LP now owns 62,928 shares of the company’s stock valued at $2,569,000 after purchasing an additional 11,034 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on AFRM shares. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Mizuho upped their price target on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Susquehanna boosted their target price on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Finally, Bank of America upped their target price on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $51.13.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $66.27 on Wednesday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The firm has a 50 day moving average of $47.39 and a 200 day moving average of $37.01. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $70.20.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data 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 firm had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the prior year, the business posted ($0.57) EPS. Equities research analysts predict that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Activity

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the firm’s 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 completion of the sale, the insider now owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 868,253 shares of company stock worth $52,186,668. Corporate insiders own 12.41% of the company’s stock.

Affirm Profile

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.