Affirm Holdings, Inc. $AFRM Shares Sold by TD Waterhouse Canada Inc.

Key Points

• TD Waterhouse Canada reduced its Affirm stake by 37.6% in the third quarter, selling 19,480 shares and retaining 32,364 shares valued at approximately $2.28 million.
• Institutional investors own 69.29% of Affirm, while several major funds increased their positions. Analysts maintain a generally positive view, with a consensus rating of “Moderate Buy” and an average price target of $97.69.
• Affirm reported quarterly earnings of $4.62 per share, well above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion. The stock opened at $73.85, within a 52-week range of $42.10 to $90.44.

TD Waterhouse Canada Inc. trimmed its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 37.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 32,364 shares of the company's stock after selling 19,480 shares during the quarter. TD Waterhouse Canada Inc.'s holdings in Affirm were worth $2,280,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Spyglass Capital Management LLC boosted its position in Affirm by 15.2% in the first quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock worth $76,168,000 after purchasing an additional 218,745 shares during the last quarter. Bank of New York Mellon Corp bought a new position in Affirm in the 2nd quarter valued at $75,121,000. Dimensional Fund Advisors LP increased its position in shares of Affirm by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock valued at $72,100,000 after purchasing an additional 166,252 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Affirm by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company's stock valued at $71,829,000 after purchasing an additional 303,037 shares during the last quarter. Finally, Swiss National Bank increased its position in shares of Affirm by 8.8% during the 1st quarter. Swiss National Bank now owns 806,800 shares of the company's stock valued at $36,968,000 after purchasing an additional 65,000 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on AFRM shares. Dbs Bank upgraded Affirm to a "moderate buy" rating in a research note on Wednesday, September 30th. Needham & Company LLC set a $85.00 price target on shares of Affirm in a research report on Wednesday, September 16th. Truist Financial increased their price target on shares of Affirm from $83.00 to $85.00 and gave the company a "buy" rating in a research report on Thursday, September 3rd. Royal Bank Of Canada raised their price objective on shares of Affirm from $80.00 to $96.00 and gave the stock a "sector perform" rating in a report on Friday, August 28th. Finally, Weiss Ratings raised shares of Affirm from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $97.69.

Affirm Stock Performance

NASDAQ:AFRM opened at $73.85 on Wednesday. The company has a market capitalization of $24.92 billion, a P/E ratio of 13.38, a P/E/G ratio of 2.92 and a beta of 3.82. The business has a fifty day simple moving average of $73.54 and a two-hundred day simple moving average of $70.93. The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $90.44.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $4.27. The firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The business's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 EPS. On average, analysts expect that Affirm Holdings, Inc. will post 1.91 earnings per share for the current year.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. This trade represents a 21.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O'Hare sold 65,591 shares of Affirm stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the completion of the transaction, the chief financial officer owned 2,734 shares of the company's stock, valued at $218,774.68. The trade was a 96.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 280,118 shares of company stock valued at $22,223,307. 11.01% of the stock is currently owned by insiders.

Affirm Company Profile

Affirm Holdings, Inc NASDAQ: AFRM operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm's platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.

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