California State Teachers Retirement System Buys 29,549,277 Shares of Affirm Holdings, Inc. $AFRM

California State Teachers Retirement System raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 7,715.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,932,275 shares of the company's stock after purchasing an additional 29,549,277 shares during the period. California State Teachers Retirement System owned 8.94% of Affirm worth $2,440,977,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. UMB Bank n.a. grew its stake in Affirm by 36.6% in the 4th quarter. UMB Bank n.a. now owns 783 shares of the company's stock worth $58,000 after buying an additional 210 shares in the last quarter. Larson Financial Group LLC grew its position in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company's stock valued at $36,000 after acquiring an additional 213 shares during the last quarter. Swiss Life Asset Management Ltd grew its holdings in shares of Affirm by 1.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 22,296 shares of the company's stock valued at $1,659,000 after purchasing an additional 247 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Affirm by 3.6% during the first quarter. QRG Capital Management Inc. now owns 9,684 shares of the company's stock valued at $444,000 after buying an additional 340 shares during the last quarter. Finally, Greenline Wealth Management LLC bought a new position in Affirm during the 4th quarter worth approximately $26,000. Institutional investors own 69.29% of the company's stock.

Insider Buying and Selling

In other Affirm news, CAO Siphelele Jiyane sold 25,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $72.41, for a total value of $1,810,250.00. Following the transaction, the chief accounting officer owned 215,691 shares of the company's stock, valued at approximately $15,618,185.31. This represents a 10.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Katherine Adkins sold 41,664 shares of the firm's stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider directly 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 287,547 shares of company stock valued at $23,031,029 over the last 90 days. Company insiders own 11.01% of the company's stock.

Wall Street Analyst Weigh In

AFRM has been the topic of a number of analyst reports. UBS Group boosted their price objective on shares of Affirm from $82.00 to $90.00 and gave the company a "neutral" rating in a research report on Friday, August 28th. Loop Capital started coverage on Affirm in a research note on Wednesday. They issued a "buy" rating and a $105.00 price target on the stock. Sanford C. Bernstein raised their target price on shares of Affirm from $100.00 to $110.00 and gave the company an "outperform" rating in a research note on Monday, August 31st. Scotiabank initiated coverage on Affirm in a report on Wednesday, September 2nd. They set a "sector outperform" rating and a $95.00 price target for the company. Finally, The Goldman Sachs Group boosted their price objective on shares of Affirm from $106.00 to $115.00 and gave the stock a "buy" rating in a report on Monday, August 31st. Twenty-four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $99.33.

Affirm Trading Down 0.2%

Shares of AFRM stock opened at $67.99 on Friday. 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 Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $92.56. The stock has a market capitalization of $22.94 billion, a P/E ratio of 12.32, a P/E/G ratio of 2.79 and a beta of 3.61. The firm's 50 day moving average is $76.17 and its 200 day moving average is $65.87.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its 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. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The company's quarterly revenue was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.20 EPS. Research analysts expect that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.

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