Capital World Investors Acquires 218,720 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Capital World Investors raised its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,002,021 shares of the company’s stock after buying an additional 218,720 shares during the quarter. Capital World Investors owned about 0.06% of Affirm worth $933,759,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in AFRM. Vanguard Group Inc. boosted its position in Affirm by 1.2% during the third quarter. Vanguard Group Inc. now owns 18,737,059 shares of the company’s stock worth $398,537,000 after purchasing an additional 213,421 shares during the period. Dimensional Fund Advisors LP grew its stake in Affirm by 6.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,622,592 shares of the company’s stock valued at $128,895,000 after buying an additional 153,675 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Affirm by 5.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after acquiring an additional 72,178 shares during the last quarter. Norges Bank bought a new stake in shares of Affirm during the fourth quarter worth approximately $67,310,000. Finally, Northern Trust Corp grew its position in shares of Affirm by 3.1% in the third quarter. Northern Trust Corp now owns 1,002,905 shares of the company’s stock valued at $21,332,000 after purchasing an additional 30,552 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Up 2.9 %

Shares of AFRM stock traded up $0.86 during mid-day trading on Wednesday, reaching $31.00. 4,573,076 shares of the stock traded hands, compared to its average volume of 8,642,135. The stock’s fifty day simple moving average is $32.51 and its two-hundred day simple moving average is $37.38. Affirm Holdings, Inc. has a 1-year low of $12.81 and a 1-year high of $52.48. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. The company has a market cap of $9.58 billion, a price-to-earnings ratio of -13.90 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. The firm had revenue of $576.00 million for the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.69) EPS. On average, research analysts anticipate that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total value of $297,945.12. Following the sale, the director now directly owns 60,000 shares in the company, valued at $1,927,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 13.05% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages have commented on AFRM. The Goldman Sachs Group upped their price objective on Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research note on Friday, February 9th. Stephens raised their target price on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. Finally, BMO Capital Markets lowered their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Six research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $27.53.

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.