BI Asset Management Fondsmaeglerselskab A S Sells 27,582 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• BI Asset Management Fondsmaeglerselskab A S drastically reduced its stake in Affirm Holdings by selling 27,582 shares, bringing its holdings down to just 1,798 shares, which are valued at approximately $81,000.
• Other institutional investors, such as Mirae Asset Global Investments, have significantly increased their positions in Affirm, with Mirae lifting their stake by 2,800.2% during the same quarter.
• Analysts have mixed opinions on Affirm's stock; while some have lowered their target prices, others maintain positive ratings, indicating a consensus target price of $68.74.

BI Asset Management Fondsmaeglerselskab A S cut its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 93.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,798 shares of the company's stock after selling 27,582 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Affirm were worth $81,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. lifted its position in Affirm by 2,800.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 46,084 shares of the company's stock worth $2,083,000 after buying an additional 44,495 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Affirm by 2.6% in the fourth quarter. Ameriprise Financial Inc. now owns 145,932 shares of the company's stock worth $8,887,000 after buying an additional 3,672 shares during the last quarter. Spire Wealth Management bought a new stake in Affirm in the first quarter worth $120,000. Deutsche Bank AG lifted its position in Affirm by 2.6% in the fourth quarter. Deutsche Bank AG now owns 32,400 shares of the company's stock worth $1,973,000 after buying an additional 817 shares during the last quarter. Finally, BIT Capital GmbH bought a new stake in Affirm in the first quarter worth $26,060,000. 69.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CAO Siphelele Jiyane sold 15,871 shares of the firm's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $1,190,325.00. Following the transaction, the chief accounting officer owned 242,192 shares in the company, valued at approximately $18,164,400. This trade represents a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Max R. Levchin sold 167,443 shares of the firm's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $80.10, for a total value of $13,412,184.30. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 629,715 shares of company stock valued at $49,194,321. Company insiders own 11.82% of the company's stock.

Affirm Stock Performance

Shares of Affirm stock opened at $79.49 on Monday. The firm has a market cap of $25.64 billion, a P/E ratio of -378.52, a P/E/G ratio of 2.95 and a beta of 3.63. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 12 month low of $30.02 and a 12 month high of $82.53. The stock's fifty day moving average price is $69.28 and its 200-day moving average price is $58.92.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Morgan Stanley decreased their target price on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Oppenheimer set a $80.00 target price on Affirm and gave the stock an "outperform" rating in a research report on Monday, July 21st. JMP Securities decreased their target price on Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Royal Bank Of Canada lifted their target price on Affirm from $70.00 to $75.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Finally, Bank of America lifted their target price on Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $68.74.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.

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