Affirm Holdings, Inc. $AFRM Shares Purchased by Fjarde AP Fonden Fourth Swedish National Pension Fund

Key Points

• Fjarde AP Fonden, the Fourth Swedish National Pension Fund, increased its stake in Affirm by 57.5% in the first quarter, holding 97,650 shares worth about $4.47 million at quarter-end.
• Affirm’s latest earnings showed $0.30 EPS, beating estimates, while revenue came in at $943.95 million, below forecasts but still up 32.7% year over year.
• Analysts remain generally positive on the stock, with a Moderate Buy consensus and an average price target of $88.20, even as insiders recently sold shares, including COO Michael Linford’s 100,000-share sale.

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 57.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 97,650 shares of the company's stock after purchasing an additional 35,650 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Affirm were worth $4,474,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Affirm during the first quarter worth $34,000. IFM Investors Pty Ltd boosted its stake in shares of Affirm by 6.5% during the 1st quarter. IFM Investors Pty Ltd now owns 54,089 shares of the company's stock worth $2,478,000 after acquiring an additional 3,278 shares in the last quarter. GraniteShares Advisors LLC boosted its stake in shares of Affirm by 6.8% during the 1st quarter. GraniteShares Advisors LLC now owns 8,442 shares of the company's stock worth $387,000 after acquiring an additional 537 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ grew its position in shares of Affirm by 0.6% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 89,647 shares of the company's stock valued at $4,108,000 after acquiring an additional 552 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Affirm by 28.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 5,334 shares of the company's stock valued at $244,000 after purchasing an additional 1,186 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Trading Up 0.2%

AFRM opened at $85.92 on Tuesday. The stock has a market capitalization of $28.77 billion, a PE ratio of 78.01, a P/E/G ratio of 3.48 and a beta of 3.67. 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 quick ratio of 11.32 and a current ratio of 11.32. The business's 50 day moving average price is $70.14 and its 200 day moving average price is $63.36.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The business 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%.The company's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. As a group, equities research analysts expect that Affirm Holdings, Inc. will post 1.24 EPS for the current year.

Insider Transactions at Affirm

In other Affirm news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares of the company's stock, valued at $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through 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 Affirm stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, the director owned 36,076 shares of the company's stock, valued at approximately $2,344,940. This represents a 5.25% decrease in their ownership of the stock. 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 sold 104,000 shares of company stock worth $8,244,000 in the last ninety days. 11.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Cantor Fitzgerald increased their price target on Affirm from $61.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Affirm in a research note on Wednesday, June 24th. Bank of America lifted their price target on shares of Affirm from $82.00 to $88.00 and gave the company a "buy" rating in a research note on Monday, May 11th. Citizens Jmp cut their target price on shares of Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a research note on Friday, April 17th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, Affirm currently has a consensus rating of "Moderate Buy" and an average target price of $88.20.

About Affirm

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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