Moran Wealth Management LLC Invests $1.65 Million in Affirm Holdings, Inc. $AFRM

Key Points

• Moran Wealth Management opened a new position in Affirm Holdings, buying 35,948 shares worth about $1.65 million in the first quarter.
• Affirm’s latest earnings beat expectations on EPS, reporting $0.30 per share versus the $0.17 consensus, while revenue rose 32.7% year over year to $943.95 million.
• Despite strong institutional interest and a generally Moderate Buy analyst rating, insiders have been selling shares recently, including COO Michael Linford’s 100,000-share sale under a pre-arranged trading plan.

Moran Wealth Management LLC purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 35,948 shares of the company's stock, valued at approximately $1,647,000.

Other large investors have also recently added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD grew its holdings in Affirm by 0.5% during the 4th quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company's stock valued at $3,195,000 after purchasing an additional 200 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Affirm by 63.6% in the 4th quarter. Fifth Third Bancorp now owns 522 shares of the company's stock worth $39,000 after buying an additional 203 shares in the last quarter. Rakuten Securities Inc. boosted its position in Affirm by 1.3% in the 4th quarter. Rakuten Securities Inc. now owns 16,622 shares of the company's stock valued at $1,237,000 after buying an additional 206 shares during the last quarter. UMB Bank n.a. boosted its position in Affirm by 36.6% in the 4th quarter. UMB Bank n.a. now owns 783 shares of the company's stock valued at $58,000 after buying an additional 210 shares during the last quarter. Finally, Larson Financial Group LLC boosted its position in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company's stock valued at $36,000 after buying an additional 213 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Stock Performance

AFRM opened at $84.58 on Monday. The business's 50 day moving average is $69.68 and its 200-day moving average is $63.27. The stock has a market cap of $28.33 billion, a PE ratio of 76.89, a price-to-earnings-growth ratio of 3.48 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to analysts' expectations 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 prior year, the business posted $0.01 earnings per share. On average, analysts predict that Affirm Holdings, Inc. will post 1.24 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, COO Michael Linford sold 100,000 shares of the business's stock in a transaction on 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 directly owned 117,984 shares of the company's stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 business's stock in a transaction dated 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. The trade was a 5.25% decrease in their position. 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. Insiders sold 104,000 shares of company stock worth $8,244,000 in the last ninety days. 11.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Truist Financial lifted their price objective on Affirm from $75.00 to $80.00 and gave the stock a "buy" rating in a report on Thursday, May 28th. BTIG Research reiterated a "neutral" rating on shares of Affirm in a research note on Tuesday, May 26th. Citigroup lifted their price target on shares of Affirm from $100.00 to $115.00 and gave the stock a "buy" rating in a research note on Wednesday. Robert W. Baird set a $70.00 price objective on shares of Affirm in a research note on Friday, May 8th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Affirm in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.20.

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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