Valliance Asset Management Ltd Purchases Shares of 25,000 Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Valliance Asset Management Ltd acquired 25,000 shares of Affirm Holdings, Inc. valued at approximately $1,130,000, making it the firm's 12th largest position.
• Insider Katherine Adkins sold 57,102 shares of Affirm, representing a 33.67% decrease in her ownership, while other notable insider transactions also occurred.
• Affirm is currently trading at $67.51, with a 1-year high of $82.53 and a consensus target price of $67.82 from analysts with a majority rating of "Moderate Buy."

Valliance Asset Management Ltd acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 25,000 shares of the company's stock, valued at approximately $1,130,000. Affirm comprises 2.6% of Valliance Asset Management Ltd's investment portfolio, making the stock its 12th biggest holding.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the 4th quarter worth approximately $28,000. Allworth Financial LP increased its holdings in Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new stake in Affirm during the 4th quarter worth approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Affirm in the 4th quarter valued at approximately $43,000. Finally, CoreCap Advisors LLC increased its holdings in shares of Affirm by 11,810.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,191 shares of the company's stock valued at $73,000 after acquiring an additional 1,181 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AFRM. Morgan Stanley lowered their price target on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Bank of America boosted their price target on Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Deutsche Bank Aktiengesellschaft initiated coverage on Affirm in a report on Thursday, July 17th. They issued a "buy" rating and a $78.00 price objective for the company. The Goldman Sachs Group upped their price objective on Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a report on Monday, May 12th. Finally, Wells Fargo & Company cut their target price on Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Ten research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $68.09.

Insiders Place Their Bets

In other Affirm news, Director Christa S. Quarles sold 754 shares of Affirm stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total transaction of $50,842.22. Following the completion of the transaction, the director owned 137,241 shares in the company, valued at approximately $9,254,160.63. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Katherine Adkins sold 57,102 shares of the business's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $70.27, for a total value of $4,012,557.54. Following the completion of the transaction, the insider owned 112,467 shares in the company, valued at $7,903,056.09. The trade was a 33.67% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 80,158 shares of company stock valued at $5,602,284. 11.82% of the stock is currently owned by insiders.

Affirm Stock Performance

Affirm stock traded down $2.14 during midday trading on Friday, reaching $66.42. 4,073,425 shares of the company's stock were exchanged, compared to its average volume of 7,175,995. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The firm has a market cap of $21.43 billion, a price-to-earnings ratio of -317.48, a P/E/G ratio of 2.49 and a beta of 3.63. The stock's 50-day simple moving average is $62.89 and its 200 day simple moving average is $57.04.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the previous year, the company posted ($0.43) earnings per share. The firm's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Affirm Company Profile

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.