Affirm Holdings, Inc. $AFRM Shares Bought by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its stake in Affirm by 6.4% in the fourth quarter, ending with 5.5 million shares valued at about $408.4 million.
• Institutional ownership in Affirm remains high, with major firms like Vanguard, Durable Capital Partners, State Street, and Invesco also adding shares; overall, institutions and hedge funds own 69.29% of the company.
• Affirm recently beat earnings expectations, posting $0.30 EPS versus the $0.17 estimate, while analysts maintain a Moderate Buy consensus with an average price target of $86.20.

Geode Capital Management LLC grew its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 5,501,387 shares of the company's stock after acquiring an additional 329,312 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Affirm worth $408,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company's stock worth $1,849,378,000 after acquiring an additional 428,138 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 worth $510,899,000 after acquiring an additional 808,455 shares during the period. State Street Corp boosted its position in Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company's stock worth $412,315,000 after acquiring an additional 1,187,665 shares during the period. Invesco Ltd. boosted its position in Affirm by 294.2% during the 3rd 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. Finally, Northwestern Mutual Wealth Management Co. boosted its position in Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company's stock worth $157,004,000 after acquiring an additional 2,141,881 shares during the period. Institutional investors and hedge funds own 69.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on AFRM shares. Citizens Jmp cut their price objective on Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a report on Friday, April 17th. Susquehanna restated a "positive" rating and issued a $100.00 price objective on shares of Affirm in a report on Friday, February 6th. Compass Point restated a "buy" rating and issued a $68.00 price objective on shares of Affirm in a report on Wednesday, February 18th. Mizuho upped their price objective on Affirm from $95.00 to $100.00 and gave the company an "outperform" rating in a report on Thursday, May 14th. Finally, Truist Financial upped their price objective on Affirm from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $86.20.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,000 shares of the company's stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director directly owned 36,076 shares of the company's stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.

Affirm Price Performance

Shares of Affirm stock opened at $73.65 on Monday. The stock's fifty day moving average is $58.55 and its 200-day moving average is $62.51. The firm has a market capitalization of $24.67 billion, a PE ratio of 66.95, a price-to-earnings-growth ratio of 4.24 and a beta of 3.70. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.Affirm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. Equities analysts anticipate that Affirm Holdings, Inc. will post 1.25 earnings per share 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.

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