Arizona State Retirement System lifted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 91.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,703 shares of the company’s stock after buying an additional 21,797 shares during the period. Arizona State Retirement System’s holdings in Affirm were worth $2,115,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. UMB Bank N A MO increased its holdings in shares of Affirm by 484.0% during the 1st quarter. UMB Bank N A MO now owns 584 shares of the company’s stock worth $27,000 after buying an additional 484 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Affirm by 275.0% during the 4th quarter. Geneos Wealth Management Inc. now owns 375 shares of the company’s stock worth $37,000 after buying an additional 275 shares during the last quarter. HM Payson & Co. increased its holdings in shares of Affirm by 540.0% during the 4th quarter. HM Payson & Co. now owns 448 shares of the company’s stock worth $45,000 after buying an additional 378 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Affirm during the 4th quarter worth $46,000. Finally, TCI Wealth Advisors Inc. boosted its position in Affirm by 54.9% during the 1st quarter. TCI Wealth Advisors Inc. now owns 982 shares of the company’s stock worth $46,000 after purchasing an additional 348 shares during the period. 58.34% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of analysts recently weighed in on the stock. Mizuho decreased their price target on shares of Affirm from $79.00 to $50.00 and set a “na” rating for the company in a research report on Tuesday, May 17th. JPMorgan Chase & Co. assumed coverage on shares of Affirm in a research report on Wednesday, May 11th. They set a “neutral” rating and a $30.00 price target for the company. Moffett Nathanson assumed coverage on shares of Affirm in a research report on Tuesday, April 5th. They set a “neutral” rating and a $50.00 price target for the company. Credit Suisse Group decreased their price target on shares of Affirm to $27.00 in a research report on Friday, July 22nd. Finally, Barclays decreased their price objective on shares of Affirm from $65.00 to $35.00 and set a “na” rating for the company in a research report on Monday, May 16th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm has an average rating of “Hold” and a consensus target price of $59.44.
Affirm Stock Performance
Affirm (NASDAQ:AFRM – Get Rating) last released its quarterly earnings data on Thursday, May 12th. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.45) by $0.26. The firm had revenue of $354.80 million for the quarter, compared to analyst estimates of $344.01 million. Affirm had a negative net margin of 52.07% and a negative return on equity of 18.00%. Affirm’s quarterly revenue was up 53.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.72) earnings per share. Equities analysts anticipate that Affirm Holdings, Inc. will post -2.43 earnings per share for the current fiscal year.
Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States and Canada. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its payments network and partnership with an originating bank, enables consumers to pay for a purchase over time with terms ranging from one to forty-eight months.
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