Ardmore Road Asset Management LP grew its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 849.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 600,000 shares of the company's stock after acquiring an additional 536,814 shares during the quarter. Affirm comprises 1.8% of Ardmore Road Asset Management LP's holdings, making the stock its 20th largest holding. Ardmore Road Asset Management LP owned 0.18% of Affirm worth $27,492,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. Mount Vernon Associates Inc. MD lifted its holdings in shares of Affirm by 0.5% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company's stock worth $3,195,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Affirm by 63.6% in the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company's stock valued at $39,000 after buying an additional 203 shares in the last quarter. Rakuten Securities Inc. grew its holdings in shares of Affirm by 1.3% during the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company's stock valued at $1,237,000 after buying an additional 206 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of Affirm by 36.6% during the fourth quarter. UMB Bank n.a. now owns 783 shares of the company's stock valued at $58,000 after buying an additional 210 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company's stock worth $36,000 after acquiring an additional 213 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
Insider Activity
In related news, Director Noel Bertram Watson sold 2,000 shares of the firm's stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction 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 approximately $9,443,439.36. This represents a 45.87% 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. 11.01% of the stock is currently owned by corporate insiders.
Affirm Price Performance
AFRM stock opened at $70.23 on Monday. The stock has a market cap of $23.52 billion, a P/E ratio of 63.85, a P/E/G ratio of 2.86 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock's fifty day simple moving average is $73.92 and its two-hundred day simple moving average is $63.64. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00.
Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business's revenue was up 32.7% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. Analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on AFRM. Wells Fargo & Company upped their target price on shares of Affirm from $89.00 to $96.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Barclays started coverage on Affirm in a report on Wednesday, July 8th. They set an "overweight" rating and a $97.00 price objective for the company. The Goldman Sachs Group raised their target price on Affirm from $90.00 to $106.00 and gave the company a "buy" rating in a report on Thursday, July 9th. Citigroup lifted their target price on Affirm from $100.00 to $115.00 and gave the company a "buy" rating in a research report on Wednesday, July 1st. Finally, Bank of America increased their price target on Affirm from $82.00 to $88.00 and gave the company a "buy" rating in a research report on Monday, May 11th. 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 stock. Based on data from MarketBeat, Affirm currently has an average rating of "Moderate Buy" and a consensus price target of $92.74.
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About Affirm
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Free Report)
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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