Main Management ETF Advisors LLC Purchases New Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Main Management ETF Advisors LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, HoldingsChannel.com reports. The firm purchased 64,408 shares of the company’s stock, valued at approximately $2,629,000.

A number of other institutional investors have also recently modified their holdings of AFRM. Dragoneer Investment Group LLC acquired a new position in Affirm during the second quarter worth $45,219,000. Artemis Investment Management LLP acquired a new position in Affirm during the third quarter worth $30,808,000. Holocene Advisors LP acquired a new position in Affirm during the third quarter worth $27,872,000. Charles Schwab Investment Management Inc. raised its holdings 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 purchasing an additional 672,883 shares during the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after acquiring an additional 528,400 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Up 5.2 %

Shares of Affirm stock opened at $71.88 on Friday. The business has a 50-day moving average of $52.01 and a 200-day moving average of $39.25. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $72.82.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate 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 period last year, the firm earned ($0.57) earnings per share. On average, sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Insider Activity

In related news, President Libor Michalek sold 2,847 shares of Affirm stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $70.00, for a total value 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. This trade represents a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the transaction, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 985,065 shares of company stock worth $60,544,069 over the last ninety days. Corporate insiders own 12.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on AFRM shares. The Goldman Sachs Group boosted their price target on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Bank of America boosted their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a report on Friday, October 4th. Barclays boosted their price target on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. Finally, BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $55.33.

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.