Van ECK Associates Corp Invests $1.27 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

Van ECK Associates Corp acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 25,767 shares of the company’s stock, valued at approximately $1,266,000.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Raymond James & Associates boosted its holdings in shares of Affirm by 9.2% in the 3rd quarter. Raymond James & Associates now owns 21,218 shares of the company’s stock valued at $451,000 after buying an additional 1,781 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Affirm by 25.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 277,843 shares of the company’s stock valued at $5,910,000 after purchasing an additional 55,568 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Affirm by 3.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 754,950 shares of the company’s stock worth $16,058,000 after purchasing an additional 23,268 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Affirm by 29.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,358 shares of the company’s stock worth $880,000 after buying an additional 9,354 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Affirm by 274.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 119,970 shares of the company’s stock valued at $2,552,000 after buying an additional 87,910 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the transaction, the director now directly owns 60,000 shares of the company’s stock, valued at approximately $1,927,200. The sale was disclosed in a filing with the SEC, which is available at this link. 13.05% of the stock is owned by corporate insiders.

Affirm Stock Performance

AFRM opened at $34.81 on Friday. The stock has a market cap of $10.68 billion, a P/E ratio of -13.98 and a beta of 3.56. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The firm has a fifty day moving average price of $34.54 and a 200 day moving average price of $35.93. Affirm Holdings, Inc. has a 1 year low of $11.57 and a 1 year high of $52.48.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The business had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. During the same period in the prior year, the company posted ($0.69) EPS. The company’s revenue for the quarter was up 51.2% on a year-over-year basis. Equities research analysts anticipate that Affirm Holdings, Inc. will post -2.45 earnings per share for the current year.

Wall Street Analyst Weigh In

AFRM has been the subject of several recent analyst reports. Stephens raised their price target on Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Barclays cut their price target on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 16th. JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $41.00 to $43.00 in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their target price on Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Finally, Wedbush reaffirmed an “underperform” rating and set a $20.00 price target on shares of Affirm in a research report on Friday, February 9th. Six investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Affirm currently has a consensus rating of “Hold” and an average price target of $27.58.

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.