Affirm Holdings, Inc. $AFRM Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring reduced its Affirm stake by 2% in the third quarter, selling 31,029 shares and retaining 1.49 million shares valued at about $104.9 million.
• Affirm insiders sold 280,118 shares worth roughly $22.2 million over three months. Several analysts lowered price targets, though the stock retains a “Moderate Buy” consensus rating and a $95.96 average target.
• Affirm reported quarterly EPS of $0.47, beating estimates of $0.38, while revenue of $1.15 billion fell short of expectations; revenue grew 35.2% year over year. The company is also set to acquire European payments provider Ratepay, with no deal terms disclosed.

Allspring Global Investments Holdings LLC lowered its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,489,226 shares of the company's stock after selling 31,029 shares during the period. Allspring Global Investments Holdings LLC owned about 0.44% of Affirm worth $104,886,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Yousif Capital Management LLC raised its holdings in Affirm by 3.7% during the 3rd quarter. Yousif Capital Management LLC now owns 3,914 shares of the company's stock valued at $271,000 after buying an additional 139 shares during the last quarter. Rhodes Investment Advisors Inc. ADV raised its holdings in shares of Affirm by 1.3% during the third quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company's stock valued at $788,000 after acquiring an additional 149 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Affirm by 5.9% during the third quarter. Brighton Jones LLC now owns 3,019 shares of the company's stock valued at $209,000 after acquiring an additional 167 shares in the last quarter. Mather Group LLC. lifted its stake in Affirm by 52.9% in the third quarter. Mather Group LLC. now owns 613 shares of the company's stock worth $42,000 after acquiring an additional 212 shares during the period. Finally, Signaturefd LLC raised its stake in Affirm by 3.7% in the third quarter. Signaturefd LLC now owns 7,587 shares of the company's stock worth $525,000 after buying an additional 270 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Insider Buying and Selling at Affirm

In other Affirm news, COO Michael Linford sold 79,219 shares of the stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. This trade represents a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katherine Adkins sold 41,664 shares of the business's stock in a transaction dated Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the sale, the insider directly owned 152,439 shares of the company's stock, valued at $11,513,717.67. This represents a 21.46% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 280,118 shares of company stock valued at $22,223,307. 10.57% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AFRM. Cantor Fitzgerald reduced their target price on shares of Affirm from $97.00 to $84.00 and set an "overweight" rating on the stock in a research report on Monday. Bank of America reiterated a "buy" rating and issued a $109.00 price target on shares of Affirm in a research note on Friday. Royal Bank Of Canada cut their price objective on shares of Affirm from $96.00 to $83.00 and set a "sector perform" rating on the stock in a research report on Friday. Needham & Company LLC restated a "buy" rating on shares of Affirm in a research note on Friday. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Affirm from $105.00 to $95.00 and set an "overweight" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $95.96.

Affirm News Roundup

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Affirm is buying Ratepay, a European payment provider, from payments company Nexi. The deal could expand Affirm’s presence in Europe, although the report provided no financial terms. Nexi Sells Payment Provider Ratepay to Affirm
• Positive Sentiment: BMO Capital maintained a Buy rating, while Citizens JMP reiterated Market Outperform, signaling continued bullish analyst support. BMO Capital Remains a Buy on Affirm Holdings Citizens JMP Reiterates Market Outperform
• Neutral Sentiment: UBS and RBC Capital kept Hold ratings, reflecting a more cautious view. UBS Maintains Hold RBC Capital Maintains Hold
• Neutral Sentiment: Affirm has attracted increased attention from Zacks users, but the report did not identify a new company development or change its outlook. Zacks on Investor Attention
• Negative Sentiment: Several firms cut price targets, including Cantor Fitzgerald ($97 to $84) and JPMorgan ($105 to $95); both kept Overweight ratings. Piper Sandler, Barclays and Stephens also lowered targets, suggesting analysts have moderated their expectations despite continued potential upside. Cantor Fitzgerald Analyst Ratings JPMorgan Target Cut Piper Sandler Target Cut Barclays Target Cut Stephens Target Cut

Affirm Trading Down 0.1%

Affirm stock opened at $68.03 on Tuesday. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $90.44. The company has a market cap of $22.95 billion, a P/E ratio of 11.81, a P/E/G ratio of 3.07 and a beta of 3.74. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $72.35 and a two-hundred day simple moving average of $66.54.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.09. The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.21 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The business's quarterly revenue was up 35.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 EPS. Analysts predict that Affirm Holdings, Inc. will post 1.89 EPS for the current year.

Affirm Company Profile

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