National Pension Service Sells 7,598 Shares of Affirm Holdings, Inc. $AFRM

National Pension Service reduced its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 22.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 25,787 shares of the company’s stock after selling 7,598 shares during the period. National Pension Service’s holdings in Affirm were worth $2,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. California State Teachers Retirement System lifted its position in shares of Affirm by 7,715.3% during the 2nd quarter. California State Teachers Retirement System now owns 29,932,275 shares of the company’s stock valued at $2,440,977,000 after buying an additional 29,549,277 shares during the last quarter. Norges Bank purchased a new stake in Affirm in the 4th quarter worth about $281,961,000. Invesco Ltd. increased its holdings in Affirm by 294.2% in the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after acquiring an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Affirm by 11,042.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock valued at $157,004,000 after acquiring an additional 2,141,881 shares during the period. Finally, Atreides Management LP raised its stake in Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after acquiring an additional 1,670,429 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on AFRM shares. Sanford C. Bernstein upped their price objective on shares of Affirm from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Monday, August 31st. BTIG Research reissued a “neutral” rating on shares of Affirm in a research report on Tuesday, May 26th. Royal Bank Of Canada upped their price target on shares of Affirm from $80.00 to $96.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th. UBS Group raised their price objective on shares of Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, August 28th. Finally, Morgan Stanley lifted their price objective on shares of Affirm from $80.00 to $82.00 and gave the company an “equal weight” rating in a research note on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.33.

Affirm Stock Performance

Shares of AFRM opened at $71.44 on Monday. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $92.56. The stock has a market cap of $24.11 billion, a PE ratio of 12.94, a P/E/G ratio of 2.92 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The business’s 50-day moving average price is $75.90 and its 200-day moving average price is $66.04.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. Affirm’s revenue was up 33.1% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. On average, equities analysts forecast that Affirm Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the transaction, the insider owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 25,000 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $72.41, for a total value of $1,810,250.00. Following the completion of the sale, the chief accounting officer owned 215,691 shares in the company, valued at $15,618,185.31. This trade represents a 10.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 287,547 shares of company stock worth $23,031,029 in the last three months. 11.01% of the stock is currently owned by corporate insiders.

Affirm Profile

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.