Mount Vernon Associates Inc. MD Raises Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Mount Vernon Associates Inc. MD raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 45.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the company’s stock after buying an additional 3,600 shares during the period. Mount Vernon Associates Inc. MD’s holdings in Affirm were worth $706,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in AFRM. Dragoneer Investment Group LLC acquired a new stake in Affirm in the 2nd quarter valued at about $45,219,000. Artemis Investment Management LLP purchased a new stake in shares of Affirm in the third quarter valued at approximately $30,808,000. Holocene Advisors LP acquired a new stake in shares of Affirm in the third quarter valued at approximately $27,872,000. Charles Schwab Investment Management Inc. lifted its position in Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after buying an additional 672,883 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Affirm by 269.7% during the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after buying an additional 528,400 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Activity

In other news, insider Katherine Adkins sold 200,000 shares of Affirm stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the completion of the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at approximately $5,149,652.25. The trade was a 68.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,323,478 shares of company stock worth $86,285,371. 12.41% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on AFRM shares. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Susquehanna raised their price objective on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. The Goldman Sachs Group increased their price target on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, William Blair assumed coverage on shares of Affirm in a research report on Wednesday. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.94.

Affirm Trading Up 7.3 %

Shares of AFRM stock opened at $59.38 on Wednesday. The stock has a market capitalization of $18.65 billion, a P/E ratio of -41.82 and a beta of 3.67. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The company has a 50 day moving average price of $63.42 and a 200 day moving average price of $45.68.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the prior year, the company earned ($0.57) earnings per share. Equities research analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

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.