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

Main Management ETF Advisors LLC bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 64,408 shares of the company’s stock, valued at approximately $2,629,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of AFRM. Comerica Bank boosted its holdings in Affirm by 16.2% during the 1st quarter. Comerica Bank now owns 6,109 shares of the company’s stock valued at $228,000 after acquiring an additional 850 shares during the period. Cetera Advisors LLC boosted its holdings in Affirm by 38.4% during the 1st quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock valued at $269,000 after acquiring an additional 2,005 shares during the period. Sequoia Financial Advisors LLC raised its position in Affirm by 15.5% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 10,159 shares of the company’s stock valued at $307,000 after purchasing an additional 1,367 shares in the last quarter. White Lighthouse Investment Management Inc. raised its position in Affirm by 40.0% in the 2nd quarter. White Lighthouse Investment Management Inc. now owns 13,782 shares of the company’s stock valued at $416,000 after purchasing an additional 3,937 shares in the last quarter. Finally, ORG Partners LLC raised its position in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Up 5.2 %

NASDAQ:AFRM opened at $71.88 on Friday. The stock’s 50 day moving average price is $52.01 and its 200 day moving average price is $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 52-week low of $22.25 and a 52-week high of $72.82.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for 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 quarter last year, the business posted ($0.57) EPS. On average, sell-side analysts predict that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 2,847 shares of Affirm stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $70.00, for a total value of $199,290.00. Following the sale, the president now directly owns 159,449 shares in the company, valued at $11,161,430. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 985,065 shares of company stock worth $60,544,069. 12.41% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Susquehanna increased their price target on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research report on Tuesday, October 8th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $55.33.

About Affirm

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.