Corient Private Wealth LP Purchases 15,642 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Corient Private Wealth LP more than doubled its Affirm stake in the second quarter, adding 15,642 shares to own 31,063 shares valued at approximately $2.53 million. Institutional investors collectively own 69.29% of Affirm.
• Wall Street maintains a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $98.78. Recent targets range from $82 to $104.
• Affirm reported quarterly revenue growth of 33.1% year over year and earnings of $4.62 per share, well above the $0.35 consensus estimate, while insiders sold roughly $25 million of stock over the past 90 days.

Corient Private Wealth LP boosted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 101.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,063 shares of the company's stock after acquiring an additional 15,642 shares during the quarter. Corient Private Wealth LP's holdings in Affirm were worth $2,533,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. QRG Capital Management Inc. boosted its holdings in shares of Affirm by 3.6% in the first quarter. QRG Capital Management Inc. now owns 9,684 shares of the company's stock valued at $444,000 after purchasing an additional 340 shares during the period. ABN Amro Investment Solutions increased its stake in shares of Affirm by 3.6% during the first quarter. ABN Amro Investment Solutions now owns 10,931 shares of the company's stock valued at $501,000 after buying an additional 378 shares during the period. Parallel Advisors LLC increased its stake in shares of Affirm by 11.9% during the first quarter. Parallel Advisors LLC now owns 4,497 shares of the company's stock valued at $206,000 after buying an additional 480 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of Affirm by 6.8% in the first quarter. GraniteShares Advisors LLC now owns 8,442 shares of the company's stock valued at $387,000 after acquiring an additional 537 shares in the last quarter. Finally, Mount Vernon Associates Inc. MD raised its holdings in shares of Affirm by 1.3% in the first quarter. Mount Vernon Associates Inc. MD now owns 43,475 shares of the company's stock valued at $1,992,000 after acquiring an additional 550 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. Oppenheimer increased their target price on shares of Affirm from $100.00 to $104.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Needham & Company LLC set a $85.00 price target on shares of Affirm in a research report on Wednesday, September 16th. Zacks Research cut shares of Affirm from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 25th. Citizens Jmp reiterated a "market outperform" rating and set a $85.00 price objective on shares of Affirm in a research note on Wednesday, September 16th. Finally, Morgan Stanley lifted their price objective on shares of Affirm from $80.00 to $82.00 and gave the company an "equal weight" rating in a report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.78.

Affirm Stock Up 1.0%

Shares of Affirm stock opened at $71.77 on Wednesday. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The company has a market cap of $24.22 billion, a P/E ratio of 13.00, a PEG ratio of 2.91 and a beta of 3.61. The firm's 50 day moving average price is $74.25 and its 200-day moving average price is $67.19. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $90.44.

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 the consensus estimate of $0.35 by $4.27. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. Affirm's revenue was up 33.1% compared to the same quarter last year. During the same period last year, the firm earned $0.20 earnings per share. On average, sell-side analysts predict that Affirm Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Insider Activity at Affirm

In other news, COO Michael Linford sold 100,000 shares of the business's 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 sale, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 26,980 shares of the company's stock in a transaction dated Monday, September 14th. The shares were sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the transaction, the chief accounting officer owned 188,711 shares in the company, valued at approximately $13,623,047.09. This trade represents a 12.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 314,527 shares of company stock valued at $24,978,716 in the last ninety days. Corporate insiders own 11.01% of the company's stock.

About Affirm

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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