Capital Research Global Investors Trims Holdings in Affirm Holdings, Inc. $AFRM

Capital Research Global Investors decreased its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.8% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 23,041,703 shares of the company’s stock after selling 658,594 shares during the period. Capital Research Global Investors owned 7.08% of Affirm worth $1,683,994,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of AFRM. Royal Bank of Canada grew its stake in Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after acquiring an additional 3,892 shares in the last quarter. Empowered Funds LLC grew its position in shares of Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after purchasing an additional 8,014 shares in the last quarter. Focus Partners Wealth bought a new position in shares of Affirm in the first quarter worth $243,000. Atria Investments Inc bought a new stake in Affirm during the second quarter valued at $265,000. Finally, Bank of New York Mellon Corp grew its position in Affirm by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 890,694 shares of the company’s stock worth $61,583,000 after buying an additional 18,504 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 36,401 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. 11.01% of the stock is owned by company insiders.

Affirm Stock Down 1.7%

Shares of NASDAQ AFRM opened at $50.81 on Tuesday. The firm’s fifty day moving average is $62.81 and its 200 day moving average is $71.04. Affirm Holdings, Inc. has a 52 week low of $30.90 and a 52 week high of $100.00. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The company has a market cap of $16.93 billion, a price-to-earnings ratio of 62.73, a PEG ratio of 1.89 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. The business had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 EPS. On average, equities research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on AFRM shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price target on shares of Affirm in a research report on Monday, February 9th. Royal Bank Of Canada cut their price target on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Citigroup restated a “market outperform” rating on shares of Affirm in a research report on Tuesday, February 24th. TD Cowen reissued a “buy” rating on shares of Affirm in a report on Friday, February 6th. Finally, Mizuho lowered their price objective on shares of Affirm from $114.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, February 9th. Twenty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $84.36.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.