Legacy Capital Group California Inc. Sells 508 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Legacy Capital Group California Inc. lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,520 shares of the company’s stock after selling 508 shares during the period. Legacy Capital Group California Inc.’s holdings in Affirm were worth $1,432,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. increased its position in shares of Affirm by 356.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the period. R Squared Ltd purchased a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Advisors Asset Management Inc. raised its position in shares of Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after acquiring an additional 671 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in shares of Affirm by 200.5% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after purchasing an additional 732 shares during the period. Finally, Valley National Advisers Inc. bought a new stake in shares of Affirm during the fourth quarter valued at approximately $61,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Stock Down 2.3 %

AFRM opened at $74.61 on Friday. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a 50 day moving average price of $64.66 and a 200-day moving average price of $52.37. The stock has a market capitalization of $23.73 billion, a price-to-earnings ratio of -114.78 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of Affirm stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the transaction, the director now owns 77,608 shares in the company, valued at $4,665,792.96. This trade represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, President Libor Michalek sold 96,332 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $70.01, for a total transaction of $6,744,203.32. Following the sale, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $11,163,024.49. The trade was a 37.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 754,482 shares of company stock valued at $52,297,805. Insiders own 12.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on AFRM shares. Wells Fargo & Company increased their price objective on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Tuesday, January 21st. Morgan Stanley upped their price objective on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, The Goldman Sachs Group lifted their price objective on Affirm from $78.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Nine analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.24.

Affirm Company 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.