20,828 Shares in Affirm Holdings, Inc. $AFRM Purchased by Vinva Investment Management Ltd

Key Points

• Vinva Investment Management Ltd initiated a stake in Affirm during Q3, purchasing 20,828 shares worth about $1,595,000.
• Affirm delivered an earnings beat with $0.37 EPS vs. $0.28 expected and $1.12B revenue (up 29.6% YoY), and analysts hold a consensus "Moderate Buy" with a $84.36 price target.
• CEO Max R. Levchin sold 666,666 shares on Jan. 5 for roughly $53.7M; company insiders now own about 11.01% of the stock.

Vinva Investment Management Ltd bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 20,828 shares of the company's stock, valued at approximately $1,595,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Affirm by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company's stock worth $1,784,545,000 after purchasing an additional 223,258 shares during the period. Durable Capital Partners LP boosted its position in Affirm by 12.3% during the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company's stock valued at $510,899,000 after purchasing an additional 808,455 shares during the period. Geode Capital Management LLC boosted its position in Affirm by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company's stock valued at $322,195,000 after purchasing an additional 254,359 shares during the period. State Street Corp grew its stake in Affirm by 3.8% during the 2nd quarter. State Street Corp now owns 4,454,300 shares of the company's stock worth $307,970,000 after buying an additional 161,522 shares during the last quarter. Finally, Foxhaven Asset Management LP grew its stake in Affirm by 39.1% during the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company's stock worth $200,292,000 after buying an additional 814,951 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on AFRM. Citigroup reiterated a "market outperform" rating on shares of Affirm in a research note on Tuesday, February 24th. Oppenheimer lowered their price target on shares of Affirm from $95.00 to $83.00 and set an "outperform" rating for the company in a research report on Friday, February 6th. BTIG Research reaffirmed a "neutral" rating on shares of Affirm in a report on Thursday, February 26th. Wolfe Research began coverage on shares of Affirm in a research report on Tuesday, December 9th. They issued a "peer perform" rating on the stock. Finally, Stephens reduced their target price on shares of Affirm from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Friday, February 6th. Twenty equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Affirm currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.36.

Affirm Trading 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 stock has a market cap 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 business has a fifty day moving average of $62.81 and a 200-day moving average of $71.04. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.28 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company's quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. Equities analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Activity

In other news, CEO Max R. Levchin sold 666,666 shares of the company's stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Robert O'hare sold 36,401 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the transaction, the chief financial officer owned 1,368 shares of the company's stock, valued at $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 11.01% of the stock is currently owned by company insiders.

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.

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