Syntegra Private Wealth Group LLC Makes New Investment in Affirm Holdings, Inc. $AFRM

Syntegra Private Wealth Group LLC bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the first quarter, Holdings Channel.com reports. The firm bought 29,000 shares of the company’s stock, valued at approximately $28,000.

Other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Affirm during the fourth quarter valued at approximately $281,961,000. Invesco Ltd. lifted its holdings in Affirm by 294.2% during the third 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 period. Northwestern Mutual Wealth Management Co. boosted its position in Affirm by 11,042.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares during the last quarter. Atreides Management LP boosted its position in Affirm by 543.3% in the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Finally, State Street Corp grew its stake in Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after purchasing an additional 1,187,665 shares during the period. 69.29% of the stock is owned by institutional investors.

Insider Transactions at Affirm

In other news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,000 shares of company stock valued at $8,244,000 in the last quarter. Company insiders own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on AFRM shares. Citigroup raised their target price on Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird set a $70.00 price target on shares of Affirm in a report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on shares of Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Needham & Company LLC raised their price objective on shares of Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.20.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $84.58 on Friday. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The business’s fifty day moving average price is $69.68 and its 200-day moving average price is $63.29. The stock has a market capitalization of $28.33 billion, a PE ratio of 76.89, a P/E/G ratio of 3.48 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the prior year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. On average, equities research analysts anticipate that Affirm Holdings, Inc. will post 1.24 EPS for the current 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.