Venturi Wealth Management LLC Acquires 732 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Venturi Wealth Management LLC raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 200.5% in the third quarter, HoldingsChannel reports. The firm owned 1,097 shares of the company’s stock after buying an additional 732 shares during the quarter. Venturi Wealth Management LLC’s holdings in Affirm were worth $45,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of AFRM. Oppenheimer & Co. Inc. bought a new position in shares of Affirm during the first quarter valued at approximately $265,000. US Bancorp DE increased its position in shares of Affirm by 5.6% during the first quarter. US Bancorp DE now owns 17,166 shares of the company’s stock valued at $640,000 after buying an additional 914 shares during the period. Avantax Advisory Services Inc. purchased a new position in shares of Affirm during the first quarter valued at about $258,000. Lord Abbett & CO. LLC lifted its holdings in Affirm by 1.8% in the first quarter. Lord Abbett & CO. LLC now owns 112,896 shares of the company’s stock worth $4,207,000 after buying an additional 2,033 shares during the period. Finally, Pinkerton Retirement Specialists LLC purchased a new stake in Affirm in the first quarter worth about $221,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AFRM. Bank of America raised their target price on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company lifted their price target on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $45.00 in a report on Monday, October 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has an average rating of “Hold” and a consensus price target of $46.03.

Insider Buying and Selling

In related news, Director Christa S. Quarles sold 14,400 shares of the firm’s 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 transaction, the director now owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 403,738 shares of company stock valued at $21,115,878 over the last 90 days. Company insiders own 12.41% of the company’s stock.

Affirm Price Performance

AFRM opened at $56.15 on Friday. The company’s 50-day simple moving average is $44.49 and its two-hundred day simple moving average is $35.66. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $59.27. The stock has a market capitalization of $17.47 billion, a P/E ratio of -39.54 and a beta of 3.47. 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 (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $661.39 million. During the same quarter last year, the company posted ($0.57) earnings per share. As a group, analysts predict that Affirm Holdings, Inc. will post -0.6 EPS for the current year.

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.