Affirm Holdings, Inc. $AFRM Stock Sold by Diversify Advisory Services LLC

Key Points

• Diversify Advisory Services LLC reduced its Affirm stake by 13.5% in the third quarter, selling 48,120 shares and retaining 307,734 shares valued at approximately $23.4 million.
• Affirm reported quarterly EPS of $4.62, substantially above the $0.35 analyst consensus, while revenue rose 33.1% year over year to $1.07 billion, slightly below estimates.
• Wall Street remains generally bullish, with 24 analysts rating the stock a Buy and eight a Hold; the consensus rating is “Moderate Buy” with an average price target of $97.69 versus a recent price of $73.85.

Diversify Advisory Services LLC trimmed its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 13.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 307,734 shares of the company's stock after selling 48,120 shares during the period. Diversify Advisory Services LLC owned approximately 0.09% of Affirm worth $23,363,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp acquired a new stake in Affirm in the second quarter worth about $75,121,000. Ardmore Road Asset Management LP increased its stake in Affirm by 849.6% during the 1st quarter. Ardmore Road Asset Management LP now owns 600,000 shares of the company's stock valued at $27,492,000 after buying an additional 536,814 shares during the period. Diversify Wealth Management LLC acquired a new position in Affirm during the 1st quarter valued at about $14,798,000. Allspring Global Investments Holdings LLC increased its stake in 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 buying an additional 303,037 shares during the period. Finally, Spyglass Capital Management LLC raised its position in shares of Affirm by 15.2% during the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock worth $76,168,000 after buying an additional 218,745 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Price Performance

NASDAQ AFRM opened at $73.85 on Wednesday. The stock's 50-day moving average price is $73.54 and its two-hundred day moving average price is $70.93. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The company has a market cap of $24.92 billion, a PE ratio of 13.38, a PEG ratio of 2.92 and a beta of 3.82. 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 posted its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. The business's quarterly revenue was up 33.1% on a year-over-year basis. On average, analysts predict that Affirm Holdings, Inc. will post 1.91 EPS for the current year.

Insider Activity

In related news, CFO Robert O'Hare sold 65,591 shares of the company's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the sale, the chief financial officer owned 2,734 shares in the company, valued at approximately $218,774.68. This represents a 96.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katherine Adkins sold 41,664 shares of the company's stock in a transaction that occurred on 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 sale, the insider owned 152,439 shares of the company's stock, valued at approximately $11,513,717.67. This trade 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 have sold 280,118 shares of company stock worth $22,223,307 over the last three months. 11.01% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Bank of America boosted their target price on Affirm from $93.00 to $104.00 and gave the stock a "buy" rating in a report on Friday, August 28th. Wolfe Research restated an "outperform" rating on shares of Affirm in a report on Friday, August 28th. Barclays upped their price target on Affirm from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, August 28th. TD Cowen cut their price objective on Affirm from $124.00 to $110.00 and set a "buy" rating for the company in a research report on Tuesday, October 6th. Finally, Royal Bank Of Canada increased their price objective on Affirm from $80.00 to $96.00 and gave the company a "sector perform" rating in a research report on Friday, August 28th. Twenty-four analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $97.69.

About Affirm

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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