First Trust Advisors LP Sells 186,861 Shares of Affirm Holdings, Inc. $AFRM

First Trust Advisors LP lessened its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 55.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,910 shares of the company's stock after selling 186,861 shares during the quarter. First Trust Advisors LP's holdings in Affirm were worth $6,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in AFRM. Vanguard Group Inc. increased its stake in Affirm by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company's stock worth $1,849,378,000 after purchasing an additional 428,138 shares during the period. Capital Research Global Investors boosted its holdings in Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company's stock valued at $1,722,797,000 after acquiring an additional 104,239 shares in the last quarter. Capital World Investors raised its stake in Affirm by 2.4% in the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company's stock worth $1,615,953,000 after buying an additional 507,224 shares in the last quarter. Durable Capital Partners LP lifted its stake in shares of Affirm by 12.3% in the 2nd 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 during the period. Finally, State Street Corp lifted its position in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company's stock valued at $412,315,000 after buying an additional 1,187,665 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Zacks Research upgraded Affirm from a "hold" rating to a "strong-buy" rating in a research note on Monday, July 27th. Piper Sandler started coverage on shares of Affirm in a report on Monday, June 29th. They set an "overweight" rating and a $103.00 price target on the stock. Susquehanna raised their target price on shares of Affirm from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, June 25th. Citizens Jmp reduced their price target on shares of Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a research report on Friday, April 17th. Finally, Robert W. Baird raised their target price on Affirm from $70.00 to $82.00 and gave the stock a "neutral" rating in a report on Tuesday, July 14th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $92.74.

Affirm Price Performance

Shares of AFRM opened at $71.51 on Monday. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company has a market cap of $23.95 billion, a PE ratio of 65.01, a P/E/G ratio of 2.91 and a beta of 3.71. The business has a fifty day moving average of $74.54 and a 200 day moving average of $63.33.

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

Insider Buying and Selling

In other news, COO Michael Linford sold 100,000 shares of the firm's stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares of the company's stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company 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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