Rakuten Securities Inc. Reduces Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Rakuten Securities Inc. lessened its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 6.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,025 shares of the company’s stock after selling 318 shares during the quarter. Rakuten Securities Inc.’s holdings in Affirm were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in AFRM. Venturi Wealth Management LLC grew its position in shares of Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after buying an additional 732 shares in the last quarter. Versor Investments LP acquired a new stake in Affirm in the third quarter valued at approximately $755,000. Entropy Technologies LP acquired a new stake in shares of Affirm in the third quarter worth approximately $464,000. GSA Capital Partners LLP acquired a new position in Affirm during the third quarter worth $1,373,000. Finally, Oppenheimer Asset Management Inc. raised its position in Affirm by 10.8% in the third quarter. Oppenheimer Asset Management Inc. now owns 24,902 shares of the company’s stock valued at $1,016,000 after purchasing an additional 2,432 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Performance

NASDAQ AFRM opened at $46.77 on Wednesday. The firm has a market cap of $14.88 billion, a price-to-earnings ratio of -71.95 and a beta of 3.63. The company has a 50 day moving average of $62.79 and a 200-day moving average of $55.61. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, equities analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on AFRM. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Barclays lifted their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Morgan Stanley lifted their target price on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and lifted their price target for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. Finally, Wells Fargo & Company boosted their price objective on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Nine research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.24.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total transaction of $967,090.32. Following the completion of the sale, the director now owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. This represents a 17.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 478,387 shares of company stock valued at $32,691,830 in the last three months. 12.41% of the stock is currently owned by corporate insiders.

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.