Nykredit A S Invests $6 Million in Affirm Holdings, Inc. $AFRM

Key Points

• Nykredit A/S purchased 73,613 Affirm shares during the second quarter, establishing a new position valued at approximately $6 million. Institutional investors own 69.29% of Affirm’s outstanding stock.
• Analysts remain broadly positive: 24 analysts rate Affirm a Buy and eight rate it a Hold, resulting in a “Moderate Buy” consensus and an average price target of $98.78.
• Affirm reported quarterly earnings of $4.62 per share, far exceeding the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion. However, insiders sold approximately $25 million of stock over the past 90 days.

Nykredit A S purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 73,613 shares of the company's stock, valued at approximately $6,003,000.

Several other large investors have also recently added to or reduced their stakes in AFRM. Syntegra Private Wealth Group LLC purchased a new position in Affirm in the 1st quarter valued at approximately $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Affirm during the first quarter worth approximately $34,000. Ascentis Independent Advisors acquired a new position in shares of Affirm in the 1st quarter valued at about $41,000. Osbon Capital Management LLC acquired a new stake in shares of Affirm in the fourth quarter valued at about $49,000. Finally, Oslo Pensjonsforsikring AS acquired a new stake in shares of Affirm during the first quarter valued at about $66,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. TD Cowen boosted their target price on shares of Affirm from $117.00 to $124.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Oppenheimer increased their price target on Affirm from $100.00 to $104.00 and gave the company an "outperform" rating in a research report on Friday, August 28th. Citizens Jmp reiterated a "market outperform" rating and set a $85.00 price target on shares of Affirm in a report on Wednesday, September 16th. Wolfe Research reissued an "outperform" rating on shares of Affirm in a research note on Friday, August 28th. Finally, Loop Capital started coverage on shares of Affirm in a report on Wednesday, September 9th. They set a "buy" rating and a $105.00 price target on the stock. Twenty-four analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $98.78.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $71.05 on Tuesday. The business has a 50 day moving average price of $74.50 and a 200 day moving average price of $67.04. The company has a market cap of $23.97 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 2.91 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $91.08.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period last year, the business earned $0.20 earnings per share. Research analysts predict that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 41,664 shares of the business's stock in a transaction that occurred on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. The trade was a 21.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 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 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. The trade was 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. Insiders have sold a total of 314,527 shares of company stock worth $24,978,716 over 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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