Affirm Holdings, Inc. $AFRM Stock Holdings Lessened by Andra AP fonden

Key Points

• Andra AP fonden cut its Affirm stake by 89% in the second quarter, selling 141,900 shares and retaining 17,500 shares worth approximately $1.43 million. Institutional investors and hedge funds collectively own 69.29% of the stock.
• Affirm insiders sold 314,527 shares valued at nearly $25 million over the past 90 days, including sizable sales by senior executives. Insiders own 11.01% of the company.
• Despite the selling activity, analysts maintain a “Moderate Buy” consensus with an average price target of $98.78, well above the reported share price of $68.09. Affirm’s latest quarterly revenue rose 33.1% year over year, while adjusted earnings significantly exceeded estimates.

Andra AP fonden reduced its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 89.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,500 shares of the company's stock after selling 141,900 shares during the quarter. Andra AP fonden's holdings in Affirm were worth $1,427,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Tidal Investments LLC bought a new position in Affirm during the second quarter valued at about $1,097,000. RFG Advisory LLC grew its position in shares of Affirm by 14.4% in the second quarter. RFG Advisory LLC now owns 21,931 shares of the company's stock valued at $1,788,000 after purchasing an additional 2,760 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Affirm by 8.4% in the second quarter. NewEdge Advisors LLC now owns 31,612 shares of the company's stock worth $2,578,000 after purchasing an additional 2,452 shares during the period. IFP Advisors Inc lifted its position in shares of Affirm by 9.2% during the 2nd quarter. IFP Advisors Inc now owns 4,080 shares of the company's stock worth $333,000 after purchasing an additional 343 shares during the last quarter. Finally, Allworth Financial LP increased its position in Affirm by 52.6% during the second quarter. Allworth Financial LP now owns 2,980 shares of the company's stock worth $243,000 after acquiring an additional 1,027 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Affirm

In related news, CAO Siphelele Jiyane sold 26,980 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This represents a 12.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Katherine Adkins sold 41,664 shares of the company's stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the transaction, the insider directly owned 152,439 shares in the company, valued at approximately $11,513,717.67. This represents a 21.46% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 314,527 shares of company stock valued at $24,978,716 over the last ninety days. 11.01% of the stock is owned by insiders.

Affirm Stock Performance

NASDAQ:AFRM opened at $68.09 on Thursday. The stock has a market capitalization of $22.97 billion, a P/E ratio of 12.34, a price-to-earnings-growth ratio of 2.94 and a beta of 3.61. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $90.44. The firm has a 50 day moving average of $73.97 and a 200-day moving average of $67.30.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, topping analysts' consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.Affirm's revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. As a group, sell-side analysts anticipate that Affirm Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on AFRM shares. Robert W. Baird raised their price target on shares of Affirm from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Loop Capital began coverage on Affirm in a research note on Wednesday, September 9th. They set a "buy" rating and a $105.00 price target on the stock. Piper Sandler upped their price target on Affirm from $103.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Truist Financial upped their target price on Affirm from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Thursday, September 3rd. Finally, Scotiabank started coverage on Affirm in a research report on Wednesday, September 2nd. They issued a "sector outperform" rating and a $95.00 target price for the company. Twenty-four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, Affirm has an average rating of "Moderate Buy" and a consensus price target of $98.78.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.

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