Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Zurcher Kantonalbank Zurich Cantonalbank raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 17.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,306 shares of the company’s stock after acquiring an additional 8,826 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Affirm were worth $2,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of AFRM. Dragoneer Investment Group LLC purchased a new position in shares of Affirm during the second quarter valued at approximately $45,219,000. Artemis Investment Management LLP purchased a new position in Affirm during the 3rd quarter valued at $30,808,000. Charles Schwab Investment Management Inc. raised its holdings in Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after purchasing an additional 528,400 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Affirm by 25.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a research note on Friday, October 4th. The Goldman Sachs Group boosted their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Mizuho boosted their price objective on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Wells Fargo & Company raised their target price on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $55.33.

Affirm Stock Up 3.5 %

NASDAQ AFRM opened at $70.76 on Wednesday. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $72.10. The stock has a 50-day moving average of $49.76 and a 200 day moving average of $38.28. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million during 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 in the previous year, the business posted ($0.57) earnings per share. As a group, analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Insider Activity

In other news, CFO Robert O’hare sold 13,965 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $68.57, for a total transaction of $957,580.05. Following the completion of the sale, the chief financial officer now owns 668 shares of the company’s stock, valued at $45,804.76. This represents a 95.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, President Libor Michalek sold 2,847 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $70.00, for a total transaction of $199,290.00. Following the completion of the transaction, the president now directly owns 159,449 shares in the company, valued at approximately $11,161,430. The trade was a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 891,694 shares of company stock valued at $53,821,357 in the last ninety days. 12.41% of the stock is currently owned by company 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.