5,431 Shares in Affirm Holdings, Inc. (NASDAQ:AFRM) Bought by Accuvest Global Advisors

Key Points

• Accuvest Global Advisors acquired 5,431 shares of Affirm Holdings, Inc. valued at approximately $245,000 during the first quarter, highlighting increased interest from institutional investors.
• Analyst ratings for Affirm show a decrease in recommendations, with BTIG Research downgrading the stock from "buy" to "neutral," while Deutsche Bank initiated coverage with a "buy" rating and a price target of $78.00.
• Affirm reported a 35.9% increase in revenue year-over-year for the last quarter, achieving $783.14 million, alongside a positive earnings surprise against analyst expectations.

Accuvest Global Advisors bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,431 shares of the company's stock, valued at approximately $245,000.

Several other hedge funds have also modified their holdings of AFRM. Capital Research Global Investors boosted its position in Affirm by 2.0% in the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company's stock valued at $1,477,747,000 after buying an additional 470,409 shares during the last quarter. Vanguard Group Inc. boosted its position in Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after buying an additional 1,457,434 shares during the last quarter. Capital World Investors boosted its position in Affirm by 0.4% in the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company's stock valued at $1,116,861,000 after buying an additional 72,582 shares during the last quarter. Durable Capital Partners LP boosted its position in Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after buying an additional 2,888,827 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its position in Affirm by 11.6% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock valued at $316,561,000 after buying an additional 538,892 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares in the company, valued at approximately $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Katherine Adkins sold 6,489 shares of Affirm stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $75.00, for a total transaction of $486,675.00. Following the transaction, the insider owned 113,400 shares in the company, valued at approximately $8,505,000. The trade was a 5.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,114 shares of company stock valued at $11,825,169 in the last ninety days. 11.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on AFRM shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Affirm in a research report on Thursday, July 17th. They issued a "buy" rating and a $78.00 price objective for the company. Royal Bank Of Canada increased their price target on shares of Affirm from $70.00 to $75.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. BTIG Research cut shares of Affirm from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Bank of America increased their price target on shares of Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Susquehanna increased their price target on shares of Affirm from $65.00 to $76.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Ten investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $68.09.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded down $6.63 during trading hours on Friday, hitting $72.33. The stock had a trading volume of 9,318,556 shares, compared to its average volume of 5,313,754. The stock's fifty day simple moving average is $65.69 and its 200 day simple moving average is $57.73. Affirm Holdings, Inc. has a 1-year low of $24.67 and a 1-year high of $82.53. The firm has a market capitalization of $23.33 billion, a price-to-earnings ratio of -344.43, a PEG ratio of 2.92 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data 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. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The business's revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm posted ($0.43) earnings per share. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

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.