Plato Investment Management Ltd Acquires 954 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Plato Investment Management Ltd boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 255.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,328 shares of the company’s stock after buying an additional 954 shares during the period. Plato Investment Management Ltd’s holdings in Affirm were worth $49,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of AFRM. International Assets Investment Management LLC acquired a new stake in shares of Affirm in the 4th quarter valued at approximately $1,698,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Affirm by 5.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock valued at $67,347,000 after purchasing an additional 72,178 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Affirm in the 1st quarter valued at approximately $258,000. Principal Financial Group Inc. boosted its stake in shares of Affirm by 34.3% in the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock valued at $710,000 after purchasing an additional 4,868 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.89, for a total value of $277,259.64. Following the sale, the director now directly owns 73,623 shares in the company, valued at approximately $2,200,591.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 13.05% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on AFRM. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Mizuho reiterated a “buy” rating and set a $65.00 target price on shares of Affirm in a research report on Thursday, June 20th. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 target price on shares of Affirm in a research report on Monday, June 24th. Royal Bank of Canada restated a “sector perform” rating and set a $43.00 price target on shares of Affirm in a report on Friday, May 24th. Finally, JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $41.00 to $43.00 in a report on Thursday, May 9th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.85.

Affirm Stock Down 6.6 %

AFRM traded down $1.87 during mid-day trading on Thursday, reaching $26.42. 6,938,237 shares of the stock were exchanged, compared to its average volume of 8,252,560. The company has a 50 day moving average price of $29.99 and a two-hundred day moving average price of $34.28. The company has a debt-to-equity ratio of 2.43, a quick ratio of 12.94 and a current ratio of 12.94. The stock has a market capitalization of $8.17 billion, a PE ratio of -11.85 and a beta of 3.45. Affirm Holdings, Inc. has a 1 year low of $13.67 and a 1 year high of $52.48.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm’s quarterly revenue was up 51.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.69) EPS. As a group, research analysts anticipate that Affirm Holdings, Inc. will post -1.98 EPS for the current year.

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.