Bank of Montreal Can Has $29.81 Million Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Bank of Montreal Can raised its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 269.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 724,336 shares of the company’s stock after purchasing an additional 528,400 shares during the quarter. Bank of Montreal Can owned 0.23% of Affirm worth $29,814,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its stake in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after acquiring an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Affirm in the second quarter valued at approximately $45,219,000. Bank of New York Mellon Corp raised its stake in shares of Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Affirm in the third quarter valued at approximately $30,808,000. Finally, Swiss National Bank raised its stake in shares of Affirm by 0.9% in the third quarter. Swiss National Bank now owns 463,500 shares of the company’s stock valued at $18,920,000 after acquiring an additional 4,000 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Wells Fargo & Company boosted their price objective on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. Susquehanna boosted their price objective on shares of Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Affirm currently has an average rating of “Hold” and a consensus price target of $52.53.

Affirm Price Performance

AFRM stock opened at $68.37 on Friday. The company has a fifty day moving average price of $48.32 and a 200-day moving average price of $37.47. The company has a market capitalization of $21.47 billion, a P/E ratio of -48.15 and a beta of 3.47. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $70.20. 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 announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. During the same quarter last year, the firm earned ($0.57) earnings per share. As a group, equities analysts expect that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 868,253 shares of company stock valued at $52,186,668. Corporate 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.