Gateway Investment Advisers LLC Takes Position in Affirm Holdings, Inc. $AFRM

by · The Cerbat Gem

Gateway Investment Advisers LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 18,000 shares of the company’s stock, valued at approximately $1,315,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after purchasing an additional 336 shares during the period. Mather Group LLC. acquired a new stake in shares of Affirm during the 3rd quarter worth approximately $29,000. SouthState Corp raised its stake in shares of Affirm by 190.5% during the second quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after buying an additional 280 shares during the last quarter. Blume Capital Management Inc. raised its stake in shares of Affirm by 468.8% during the second quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after buying an additional 375 shares during the last quarter. Finally, UMB Bank n.a. lifted its holdings in Affirm by 86.6% in the second quarter. UMB Bank n.a. now owns 569 shares of the company’s stock valued at $39,000 after buying an additional 264 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Rothschild Redb raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Royal Bank Of Canada reduced their price target on Affirm from $97.00 to $87.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Rothschild & Co Redburn upgraded Affirm from a “neutral” rating to a “buy” rating and upped their price objective for the company from $74.00 to $101.00 in a report on Monday, October 6th. Morgan Stanley cut their target price on Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Finally, Evercore ISI restated an “outperform” rating on shares of Affirm in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $86.57.

Read Our Latest Analysis on AFRM

Insider Activity

In related news, CFO Robert O’hare sold 8,189 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $70.00, for a total value of $573,230.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $95,760. The trade was a 85.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 11.01% of the company’s stock.

Affirm Stock Performance

Shares of Affirm stock opened at $80.80 on Tuesday. The company has a market capitalization of $26.67 billion, a PE ratio of 120.60, a PEG ratio of 3.36 and a beta of 3.57. Affirm Holdings, Inc. has a 12 month low of $30.90 and a 12 month high of $100.00. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock’s fifty day simple moving average is $71.49 and its 200 day simple moving average is $73.71.

Affirm (NASDAQ:AFRM – Get Free Report) last posted its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million during the quarter, compared to analysts’ expectations of $881.83 million. During the same period in the previous year, the firm earned ($0.31) earnings per share. The company’s revenue was up 33.6% on a year-over-year basis. On average, research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Affirm Profile

(Free Report)

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.

See Also

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