Affirm Holdings, Inc. $AFRM Shares Sold by KBC Group NV

Key Points

• KBC Group NV slashed its stake in Affirm by 79.1% in the first quarter, selling 153,684 shares and leaving it with 40,722 shares worth about $1.87 million.
• Affirm’s latest quarterly results beat earnings expectations, with EPS of $0.30 versus the $0.17 consensus, while revenue rose 32.7% year over year to $943.95 million.
• Analysts remain broadly positive on AFRM, with several firms raising price targets and the stock carrying a Moderate Buy consensus and an average target price of $92.74.

KBC Group NV cut its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 79.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 40,722 shares of the company's stock after selling 153,684 shares during the period. KBC Group NV's holdings in Affirm were worth $1,866,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Affirm by 1.8% during the fourth 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. Capital Research Global Investors lifted its holdings in shares of Affirm by 0.5% in the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company's stock worth $1,722,797,000 after purchasing an additional 104,239 shares during the last quarter. Capital World Investors lifted its holdings in shares of Affirm by 2.4% in the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company's stock worth $1,615,953,000 after purchasing an additional 507,224 shares during the last quarter. 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. Finally, State Street Corp grew its stake 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 buying an additional 1,187,665 shares during the last quarter. Institutional investors own 69.29% of the company's stock.

Affirm Stock Performance

Shares of AFRM opened at $70.23 on Friday. The firm has a market capitalization of $23.52 billion, a PE ratio of 63.85, a P/E/G ratio of 2.90 and a beta of 3.67. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average price of $73.92 and a 200 day moving average price of $63.76. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 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 the consensus estimate of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. Affirm's revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, COO Michael Linford sold 100,000 shares of the company's stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares in the company, valued at $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on AFRM. TD Cowen raised their target price on Affirm from $90.00 to $117.00 and gave the company a "buy" rating in a research note on Tuesday, July 7th. Barclays initiated coverage on shares of Affirm in a report on Wednesday, July 8th. They issued an "overweight" rating and a $97.00 price objective on the stock. Robert W. Baird boosted their target price on shares of Affirm from $70.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lifted their price target on Affirm from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, July 8th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $92.74.

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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