Mirae Asset Global Investments Co. Ltd. reduced its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Get Rating) by 13.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 361,255 shares of the company’s stock after selling 54,450 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Affirm were worth $16,719,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of AFRM. TradeLink Capital LLC purchased a new position in shares of Affirm in the first quarter valued at $329,000. M Holdings Securities Inc. purchased a new position in shares of Affirm in the first quarter valued at $506,000. Advisory Services Network LLC boosted its stake in shares of Affirm by 367.8% in the first quarter. Advisory Services Network LLC now owns 25,776 shares of the company’s stock valued at $1,193,000 after purchasing an additional 20,266 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Affirm by 1,093.6% in the first quarter. The Manufacturers Life Insurance Company now owns 81,083 shares of the company’s stock valued at $3,787,000 after purchasing an additional 74,290 shares during the period. Finally, Chicago Partners Investment Group LLC boosted its stake in shares of Affirm by 36.1% in the first quarter. Chicago Partners Investment Group LLC now owns 12,025 shares of the company’s stock valued at $294,000 after purchasing an additional 3,191 shares during the period. 72.76% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price target on shares of Affirm from $22.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, August 26th. Royal Bank of Canada cut their price target on shares of Affirm from $48.00 to $40.00 and set an “outperform” rating on the stock in a report on Friday, August 26th. Piper Sandler cut their price target on shares of Affirm from $32.00 to $28.00 and set a “neutral” rating on the stock in a report on Wednesday, June 29th. Mizuho cut their price target on shares of Affirm from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Wednesday, September 7th. Finally, Bank of America cut their price target on shares of Affirm from $45.00 to $38.00 and set a “buy” rating on the stock in a report on Tuesday, August 30th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $37.83.
Affirm Stock Performance
Affirm (NASDAQ:AFRM – Get Rating) last announced its earnings results on Thursday, August 25th. The company reported ($0.65) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.45) by ($0.20). The company had revenue of $364.10 million during the quarter, compared to the consensus estimate of $354.86 million. Affirm had a negative net margin of 52.43% and a negative return on equity of 20.25%. The business’s quarterly revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.48) EPS. On average, sell-side analysts anticipate that Affirm Holdings, Inc. will post -2.8 earnings per share for the current fiscal year.
Affirm Company Profile
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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