Diversify Wealth Management LLC Makes New Investment in Affirm Holdings, Inc. $AFRM

Key Points

• Diversify Wealth Management LLC disclosed a new stake in Affirm Holdings, buying 322,961 shares worth about $14.8 million in the first quarter, giving it roughly 0.10% ownership.
• Wall Street sentiment on Affirm has turned more positive, with several firms raising price targets; the stock now carries a Moderate Buy consensus and an average target price of $90.35.
• Affirm recently beat earnings expectations, reporting $0.30 EPS versus the expected $0.17, while revenue grew 32.7% year over year; however, insiders have sold shares in recent months, including a large sale by the COO.

Diversify Wealth Management LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 322,961 shares of the company's stock, valued at approximately $14,798,000. Diversify Wealth Management LLC owned about 0.10% of Affirm as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Greenline Wealth Management LLC bought a new position in shares of Affirm in the fourth quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC bought a new stake in Affirm during the first quarter worth $28,000. Triumph Capital Management bought a new stake in Affirm during the third quarter worth $31,000. CoreCap Advisors LLC boosted its position in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock worth $33,000 after purchasing an additional 358 shares during the last quarter. Finally, Strive Financial Group LLC bought a new position in Affirm in the 4th quarter valued at $33,000. Institutional investors own 69.29% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AFRM. Stephens raised their target price on Affirm from $55.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. BTIG Research restated a "neutral" rating on shares of Affirm in a report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price objective on shares of Affirm from $80.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday. Finally, Cantor Fitzgerald boosted their target price on shares of Affirm from $61.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $90.35.

Affirm Stock Performance

Shares of AFRM traded down $0.36 during trading hours on Friday, hitting $83.42. The company's stock had a trading volume of 3,468,851 shares, compared to its average volume of 4,079,038. The business has a 50 day simple moving average of $71.67 and a two-hundred day simple moving average of $63.66. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The company has a market cap of $27.94 billion, a price-to-earnings ratio of 75.84, a PEG ratio of 3.43 and a beta of 3.67.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same period in the previous year, the business earned $0.01 EPS. Affirm's revenue was up 32.7% compared to the same quarter last year. On average, equities analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company's stock, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 104,000 shares of company stock worth $8,244,000. Insiders own 11.01% of the company's stock.

About Affirm

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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