Proficio Capital Partners LLC Invests $8.83 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

Proficio Capital Partners LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 145,003 shares of the company's stock, valued at approximately $8,831,000.

A number of other hedge funds have also recently added to or reduced their stakes in AFRM. Amalgamated Bank lifted its holdings in shares of Affirm by 11.9% in the 4th quarter. Amalgamated Bank now owns 13,493 shares of the company's stock worth $822,000 after purchasing an additional 1,432 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Affirm by 0.6% during the fourth quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company's stock worth $53,902,000 after buying an additional 5,169 shares during the last quarter. IFP Advisors Inc lifted its stake in shares of Affirm by 47.2% in the fourth quarter. IFP Advisors Inc now owns 3,438 shares of the company's stock valued at $212,000 after buying an additional 1,103 shares in the last quarter. Y Intercept Hong Kong Ltd grew its holdings in shares of Affirm by 46.9% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 58,215 shares of the company's stock valued at $3,545,000 after buying an additional 18,577 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC bought a new stake in shares of Affirm during the fourth quarter worth about $286,000. Institutional investors and hedge funds own 69.29% of the company's stock.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 400,000 shares of Affirm stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now owns 85,420 shares of the company's stock, valued at $5,893,125.80. The trade was a 82.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the transaction, the director now directly owns 61,520 shares in the company, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 478,387 shares of company stock worth $32,691,830 in the last three months. 12.41% of the stock is currently owned by corporate insiders.

Affirm Stock Performance

AFRM stock traded up $1.64 during midday trading on Wednesday, reaching $58.65. 6,349,476 shares of the company's stock traded hands, compared to its average volume of 7,910,160. The firm has a market capitalization of $18.65 billion, a PE ratio of -90.23 and a beta of 3.66. The company has a 50-day moving average price of $64.08 and a two-hundred day moving average price of $54.87. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. As a group, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on AFRM. William Blair started coverage on shares of Affirm in a research report on Wednesday, January 15th. They issued an "outperform" rating on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $45.00 to $75.00 and gave the company a "hold" rating in a research report on Monday, December 16th. Wells Fargo & Company increased their price target on Affirm from $70.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Morgan Stanley lifted their price objective on shares of Affirm from $39.00 to $55.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group increased their target price on shares of Affirm from $78.00 to $90.00 and gave the company a "buy" rating in a report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Affirm currently has an average rating of "Moderate Buy" and a consensus target price of $70.24.

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.