Prudential Financial Inc. Lowers Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Prudential Financial Inc. cut its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 74.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,145 shares of the company's stock after selling 35,500 shares during the period. Prudential Financial Inc.'s holdings in Affirm were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AFRM. Geneos Wealth Management Inc. grew its stake in Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company's stock worth $32,000 after acquiring an additional 410 shares in the last quarter. R Squared Ltd bought a new position in Affirm in the fourth quarter worth approximately $33,000. Creative Financial Designs Inc. ADV increased its holdings in Affirm by 640.0% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company's stock worth $45,000 after purchasing an additional 640 shares during the period. Valley National Advisers Inc. bought a new stake in Affirm during the 4th quarter valued at $61,000. Finally, Bogart Wealth LLC purchased a new stake in shares of Affirm in the 4th quarter worth $61,000. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

AFRM stock traded down $0.25 during midday trading on Friday, reaching $40.49. The stock had a trading volume of 9,163,453 shares, compared to its average volume of 8,343,305. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm has a fifty day simple moving average of $55.81 and a two-hundred day simple moving average of $56.19. The stock has a market cap of $12.88 billion, a PE ratio of -62.29 and a beta of 3.68. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.23 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 research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on AFRM shares. Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a research note on Monday, March 24th. Jefferies Financial Group raised Affirm from a "hold" rating to a "buy" rating and increased their target price for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. JMP Securities lifted their price target on Affirm from $78.00 to $85.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. UBS Group upped their price objective on Affirm from $46.00 to $62.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Barclays lifted their target price on Affirm from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. Eight analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of "Moderate Buy" and a consensus price target of $66.74.

Insider Activity

In related news, Director Keith Rabois sold 16,088 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the completion of the transaction, the director now directly owns 61,520 shares in the company, valued at $3,935,434.40. The trade was a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the company's stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now directly owns 137,325 shares in the company, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,762 shares of company stock valued at $3,241,246 in the last ninety days. Insiders own 12.41% of the company's stock.

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.