BG Investment Services LLC Acquires New Holdings in Affirm Holdings, Inc. $AFRM

Key Points

• BG Investment Services acquired 19,008 Affirm shares in the third quarter, worth approximately $1.316 million. Institutional investors collectively own 69.29% of the company.
• Affirm insiders sold 280,118 shares worth $22.2 million over the past 90 days, including substantial sales by CFO Robert O’Hare and insider Katherine Adkins under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $97.81 versus a recent share price of $70.08. Affirm’s latest quarterly revenue rose 33.1% year over year to $1.07 billion, while earnings significantly exceeded expectations.

BG Investment Services LLC bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,008 shares of the company's stock, valued at approximately $1,316,000.

A number of other hedge funds have also recently modified their holdings of the stock. TD Waterhouse Canada Inc. grew its stake in Affirm by 386.5% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 51,844 shares of the company's stock worth $4,228,000 after buying an additional 41,187 shares during the last quarter. SteelPeak Wealth LLC acquired a new position in Affirm during the first quarter worth approximately $935,000. Dimensional Fund Advisors LP increased its position in Affirm by 11.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock worth $72,100,000 after buying an additional 166,252 shares during the period. Nykredit A S purchased a new stake in Affirm in the second quarter valued at approximately $7,170,000. Finally, Royal Bank of Canada lifted its stake in Affirm by 8.4% in the first quarter. Royal Bank of Canada now owns 318,783 shares of the company's stock valued at $14,607,000 after buying an additional 24,583 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Affirm

In related news, CFO Robert O'Hare sold 65,591 shares of the business's stock in a transaction dated Friday, October 9th. The shares were sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the sale, the chief financial officer owned 2,734 shares of the company's stock, valued at approximately $218,774.68. The trade was a 96.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 dated Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. The trade was a 21.46% decrease in their ownership of the stock. 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. Insiders sold a total of 280,118 shares of company stock worth $22,223,307 in the last ninety days. Corporate insiders own 11.01% of the company's stock.

Analysts Set New Price Targets

AFRM has been the subject of several research analyst reports. Wolfe Research reissued an "outperform" rating on shares of Affirm in a report on Friday, August 28th. Susquehanna lifted their target price on shares of Affirm from $105.00 to $110.00 and gave the company a "positive" rating in a report on Friday, August 28th. Morgan Stanley raised their price target on Affirm from $80.00 to $82.00 and gave the stock an "equal weight" rating in a report on Friday, August 28th. Citizens Jmp reissued a "market outperform" rating and issued a $85.00 target price on shares of Affirm in a report on Wednesday, September 16th. Finally, Barclays boosted their target price on Affirm from $97.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Twenty-four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Affirm presently has a consensus rating of "Moderate Buy" and an average price target of $97.81.

Affirm Stock Performance

Shares of AFRM stock opened at $70.08 on Friday. The company has a market cap of $23.65 billion, a price-to-earnings ratio of 12.70, a price-to-earnings-growth ratio of 2.81 and a beta of 3.82. The stock has a 50 day simple moving average of $73.26 and a 200-day simple moving average of $71.29. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $90.44. 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 (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the business earned $0.20 earnings per share. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. On average, equities analysts forecast that Affirm Holdings, Inc. will post 1.91 EPS for the current year.

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.

Want to see what other hedge funds are holding AFRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.