Simplicity Wealth LLC Buys New Position in Affirm Holdings, Inc. $AFRM

Simplicity Wealth LLC purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, Holdings Channel.com reports. The fund purchased 29,018 shares of the company’s stock, valued at approximately $2,121,000.

Several other hedge funds have also made changes to their positions in AFRM. Royal Bank of Canada grew its holdings in shares of Affirm by 2.1% in the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares in the last quarter. Empowered Funds LLC boosted its position in Affirm by 90.7% in the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after buying an additional 8,014 shares during the period. Focus Partners Wealth acquired a new position in shares of Affirm in the first quarter worth $243,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Affirm during the second quarter worth $441,000. Finally, UMB Bank n.a. raised its stake in shares of Affirm by 86.6% in the second quarter. UMB Bank n.a. now owns 569 shares of the company’s stock valued at $39,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Evercore ISI reissued an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Wolfe Research initiated coverage on Affirm in a research report on Tuesday, December 9th. They set a “peer perform” rating for the company. Wells Fargo & Company assumed coverage on shares of Affirm in a research note on Tuesday, October 21st. They set an “overweight” rating and a $89.00 target price on the stock. Rothschild & Co Redburn upgraded shares of Affirm from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $74.00 to $101.00 in a research note on Monday, October 6th. Finally, Citigroup upgraded shares of Affirm to a “strong-buy” rating in a report on Thursday, October 23rd. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $89.17.

Insiders Place Their Bets

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the firm’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 transaction, the chief financial officer owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by corporate insiders.

Affirm Stock Performance

Shares of AFRM opened at $72.83 on Friday. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of 108.70, a price-to-earnings-growth ratio of 3.25 and a beta of 3.57. 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 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock has a 50 day moving average price of $72.36 and a 200 day moving average price of $74.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.12. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The business had revenue of $933.34 million during the quarter, compared to the consensus estimate of $881.83 million. During the same quarter in the previous year, the firm earned ($0.31) EPS. The company’s revenue was up 33.6% compared to the same quarter last year. Research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Affirm Company Profile

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.