Diversify Advisory Services LLC Trims Stake in Affirm Holdings, Inc. $AFRM

Key Points

• Diversify Advisory Services LLC trimmed its stake in Affirm by 14.0% in Q3, selling 35,823 shares and now holds 219,833 shares valued at about $15.85 million (roughly 0.07% of the company).
• Affirm beat expectations for the quarter with EPS $0.37 vs. $0.28 and revenue of $1.12 billion (up 29.6% year-over-year), while analysts maintain a consensus rating of "Moderate Buy" with a $84.36 price target.
• There is heavy institutional activity—Norges Bank initiated a ~$183 million stake and several funds materially increased positions (Vanguard holds 24.2M shares), even as insiders sold large blocks (CEO Max Levchin sold 666,666 shares for ~$53.7 million); institutional ownership stands at about 69.3%.

Diversify Advisory Services LLC cut its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 14.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 219,833 shares of the company's stock after selling 35,823 shares during the period. Diversify Advisory Services LLC owned 0.07% of Affirm worth $15,846,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of AFRM. Norges Bank bought a new stake in shares of Affirm during the 2nd quarter valued at $183,475,000. Atreides Management LP raised its holdings in Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company's stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. Vanguard Group Inc. raised its holdings in Affirm by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company's stock worth $1,672,898,000 after purchasing an additional 922,813 shares during the period. Foxhaven Asset Management LP lifted its position in Affirm by 39.1% during the second quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company's stock valued at $200,292,000 after purchasing an additional 814,951 shares in the last quarter. Finally, Durable Capital Partners LP lifted its position in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company's stock valued at $510,899,000 after purchasing an additional 808,455 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Price Performance

Shares of Affirm stock opened at $51.70 on Monday. The company has a market capitalization of $17.22 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.89 and a beta of 3.61. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The stock's 50-day simple moving average is $63.30 and its 200-day simple moving average is $71.21. Affirm Holdings, Inc. has a 52 week low of $30.90 and a 52 week high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.09. The firm had revenue of $1.12 billion during the quarter, compared to analysts' expectations of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm's revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the business posted $0.23 earnings per share. As a group, analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on AFRM shares. TD Cowen restated a "buy" rating on shares of Affirm in a research report on Friday, February 6th. JPMorgan Chase & Co. lowered their price objective on Affirm from $94.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. BTIG Research reiterated a "neutral" rating on shares of Affirm in a research note on Thursday, February 26th. The Goldman Sachs Group lowered shares of Affirm from a "buy" rating to a "hold" rating in a report on Tuesday, February 24th. Finally, Stephens lowered their price target on shares of Affirm from $75.00 to $65.00 and set an "equal weight" rating on the stock in a report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.36.

Insider Activity at Affirm

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O'hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares in the company, valued at approximately $109,440. The trade was a 96.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.01% of the company's stock.

Affirm Company Profile

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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