Alliancebernstein L.P. Cuts Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Alliancebernstein L.P. decreased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 41.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 263,241 shares of the company's stock after selling 188,034 shares during the quarter. Alliancebernstein L.P. owned 0.08% of Affirm worth $16,031,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of AFRM. Norges Bank acquired a new position in Affirm in the 4th quarter worth about $139,949,000. Vanguard Group Inc. grew its holdings in Affirm by 3.4% during the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company's stock valued at $1,328,568,000 after purchasing an additional 716,574 shares during the last quarter. Amundi grew its stake in Affirm by 107.5% in the 4th quarter. Amundi now owns 603,437 shares of the company's stock valued at $35,404,000 after buying an additional 312,620 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Affirm in the fourth quarter worth about $14,591,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Affirm during the 4th quarter worth about $8,831,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Susquehanna cut shares of Affirm from a "positive" rating to a "neutral" rating and set a $57.00 target price for the company. in a research note on Tuesday, January 21st. William Blair initiated coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an "outperform" rating for the company. Citizens Jmp upgraded shares of Affirm from a "hold" rating to a "strong-buy" rating in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, UBS Group boosted their target price on shares of Affirm from $46.00 to $62.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Affirm has a consensus rating of "Moderate Buy" and an average target price of $66.74.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded up $1.27 on Monday, reaching $41.76. 1,270,224 shares of the company's stock were exchanged, compared to its average volume of 8,316,774. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a fifty day moving average of $55.81 and a 200-day moving average of $56.19. The company has a market capitalization of $13.28 billion, a price-to-earnings ratio of -64.24 and a beta of 3.68.

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

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the transaction, the director now directly owns 45,432 shares of the company's stock, valued at approximately $2,063,067.12. This trade represents a 26.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Christa S. Quarles sold 5,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares in the company, valued at approximately $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 55,762 shares of company stock worth $3,241,246 over the last 90 days. Insiders own 12.41% of the company's stock.

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.