Bank of Montreal Can Purchases 528,400 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Bank of Montreal Can increased its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 269.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 724,336 shares of the company’s stock after acquiring an additional 528,400 shares during the period. Bank of Montreal Can’s holdings in Affirm were worth $29,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. KBC Group NV increased its holdings in Affirm by 3.6% during the 3rd quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after acquiring an additional 222 shares during the period. CIBC Asset Management Inc increased its holdings in Affirm by 3.2% during the 3rd quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after acquiring an additional 233 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the period. ORG Partners LLC increased its holdings in Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares during the period. Finally, Myecfo LLC grew its stake in Affirm by 5.0% in the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after buying an additional 589 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on AFRM. Bank of America boosted their price target on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Barclays boosted their price target on shares of Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday. Susquehanna boosted their price target on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their price target on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $52.53.

Insider Buying and Selling at Affirm

In other news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now directly owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now owns 122,069 shares in the company, valued at approximately $5,493,105. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock worth $52,186,668 over the last quarter. Insiders own 12.41% of the company’s stock.

Affirm Price Performance

Affirm stock opened at $68.37 on Friday. The company has a market cap of $21.47 billion, a price-to-earnings ratio of -48.15 and a beta of 3.47. The firm’s fifty day moving average is $48.32 and its 200 day moving average is $37.47. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $70.20.

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, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter in the prior year, the firm earned ($0.57) earnings per share. Sell-side analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Affirm 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.