Price T Rowe Associates Inc. MD Increases Stock Position in Affirm Holdings, Inc. $AFRM

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Affirm Holdings by 140.8% during the first quarter, owning 4,544,132 shares valued at approximately $205.35 million.
• Affirm's stock price increased by 6.7%, with a market cap of $25.64 billion and a 52-week trading range from $30.02 to $82.53.
• Insider transactions included CEO Max R. Levchin selling 167,443 shares at an average price of $80.10, amounting to over $13.4 million in sales.

Price T Rowe Associates Inc. MD boosted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 140.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,544,132 shares of the company's stock after buying an additional 2,657,074 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.43% of Affirm worth $205,350,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of AFRM. Allworth Financial LP boosted its stake in Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after buying an additional 219 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Affirm during the fourth quarter worth about $28,000. Coppell Advisory Solutions LLC purchased a new position in shares of Affirm in the fourth quarter valued at approximately $40,000. Thurston Springer Miller Herd & Titak Inc. boosted its stake in shares of Affirm by 3,637.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,383 shares of the company's stock valued at $62,000 after purchasing an additional 1,346 shares during the period. Finally, First Horizon Advisors Inc. purchased a new position in shares of Affirm in the first quarter valued at approximately $69,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Stock Up 6.7%

Shares of NASDAQ:AFRM opened at $79.49 on Friday. The firm's 50 day moving average price is $69.28 and its 200 day moving average price is $58.94. The stock has a market cap of $25.64 billion, a price-to-earnings ratio of -378.52, a price-to-earnings-growth ratio of 2.95 and a beta of 3.63. Affirm Holdings, Inc. has a fifty-two week low of $30.02 and a fifty-two week high of $82.53. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 6,489 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $75.00, for a total transaction of $486,675.00. Following the sale, the insider owned 113,400 shares of the company's stock, valued at approximately $8,505,000. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Max R. Levchin sold 167,443 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $80.10, for a total transaction of $13,412,184.30. The disclosure for this sale can be found here. Insiders have sold 629,715 shares of company stock valued at $49,194,321 over the last quarter. Insiders own 11.82% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Affirm in a research note on Wednesday, July 2nd. Truist Financial raised their price objective on shares of Affirm from $58.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Oppenheimer set a $80.00 price objective on shares of Affirm and gave the company an "outperform" rating in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Affirm in a research note on Thursday, July 17th. They issued a "buy" rating and a $78.00 price objective for the company. Finally, Bank of America raised their price objective on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have given a Hold rating to the stock. Based on data from MarketBeat, Affirm presently has a consensus rating of "Moderate Buy" and an average price target of $68.74.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.

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