Affirm Holdings, Inc. $AFRM Position Raised by Capital World Investors

Capital World Investors boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 0.1% in the third quarter, HoldingsChannel.com reports. The firm owned 21,203,690 shares of the company’s stock after purchasing an additional 18,520 shares during the quarter. Capital World Investors owned about 0.07% of Affirm worth $1,549,587,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Affirm by 2.1% in the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after buying an additional 3,892 shares in the last quarter. Empowered Funds LLC grew its holdings in Affirm by 90.7% during the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after acquiring an additional 8,014 shares during the period. Focus Partners Wealth acquired a new position in Affirm during the first quarter worth about $243,000. Atria Investments Inc bought a new stake in Affirm in the second quarter worth about $265,000. Finally, Bank of New York Mellon Corp lifted its holdings in Affirm by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 890,694 shares of the company’s stock valued at $61,583,000 after acquiring an additional 18,504 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AFRM has been the topic of several recent research reports. TD Cowen reaffirmed a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Mizuho reduced their target price 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. Bank of America began coverage on shares of Affirm in a research report on Thursday, March 5th. They issued a “buy” rating and a $82.00 price target on the stock. Stephens cut their target price on Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research report on Friday, February 6th. Finally, JPMorgan Chase & Co. decreased their price target on Affirm from $94.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $84.36.

Affirm Stock Down 1.7%

NASDAQ:AFRM opened at $50.81 on Tuesday. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00. The firm has a market capitalization of $16.93 billion, a price-to-earnings ratio of 62.73, a PEG ratio of 1.89 and a beta of 3.61. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The business’s fifty day moving average price is $62.81 and its 200 day moving average price is $71.04.

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

Insider Activity

In related news, CFO Robert O’hare sold 36,401 shares of the business’s 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. The trade was a 96.38% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The SEC filing for this sale provides additional information. Corporate insiders own 11.01% of the company’s stock.

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.