Institutional investors have increased their stakes in Affirm Holdings, Inc. (NASDAQ:AFRM) and ProFrac Holding Corp. (NASDAQ:ACDC), according to recent reports.
Creative Financial Designs Inc. ADV raised its stake in Affirm by 82.2% in the fourth quarter, acquiring an additional 300 shares. The firm now owns 665 shares of Affirm's stock, worth $33,000. The Treasurer of the State of North Carolina also increased its position in Affirm by 0.5% during the third quarter. Signaturefd LLC raised its stake in Affirm by 9.0% in the third quarter. Covestor Ltd acquired a new stake in Affirm during the first quarter. PNC Financial Services Group Inc. boosted its position in Affirm by 1.7% during the third quarter. Vanguard Personalized Indexing Management LLC increased its holdings in shares of Affirm by 3.2% in the third quarter [46312a04].
In addition, a director of Affirm sold 9,276 shares of the company's stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. The director now owns 78,552 shares of the company's stock [46312a04].
Analysts have set new price targets for Affirm, with a consensus rating of 'Hold' and an average target price of $26.97 [46312a04].
Affirm Holdings, Inc. operates a platform for digital and mobile-first commerce. The company's platform includes a point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Affirm's stock has a 1-year low of $8.80 and a 1-year high of $52.48. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The company had revenue of $591.11 million for the quarter. Affirm Holdings, Inc. is expected to post -2.45 earnings per share for the current year [46312a04].
CastleKnight Management LP, an institutional investor, has purchased 112,700 shares of ProFrac Holding Corp. (NASDAQ:ACDC) in the 4th quarter, valued at approximately $956,000. Other hedge funds, including Russell Investments Group Ltd., Quest Partners LLC, Aristides Capital LLC, Pinnacle Associates Ltd., and Jump Financial LLC, have also modified their holdings of ProFrac. ProFrac Holding Corp. operates as a technology-focused energy services holding company in the United States, offering hydraulic fracturing, well stimulation, in-basin frac sand, and other completion services to upstream oil and natural gas companies. The company reported $0.03 earnings per share for the quarter, with a negative net margin of 5.35% and a negative return on equity of 1.00%. Analysts forecast that ProFrac Holding Corp. will post 0.58 earnings per share for the current fiscal year. Several analysts have weighed in on ACDC shares, with Stifel Nicolaus decreasing their target price from $12.00 to $10.00 and Bank of America raising their target price from $8.50 to $9.50. Major shareholders, including Holdings Lp Thrc and Farris Wilks, have purchased shares of ProFrac in recent transactions.
Affirm, a leading buy now pay later (BNPL) company, is looking increasingly attractive after Apple announced its exit from the BNPL space in the United States. Affirm has experienced torrid top-line growth and improving operating margins, with its Affirm Card gaining traction with consumers. The company's solid execution in the high interest rate environment suggests that bearish fears are overblown. Affirm's financial performance and potential positive impact from Apple's exit make it an attractive investment opportunity [0690c791].