Public Employees Retirement System of Ohio bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 79,844 shares of the company's stock, valued at approximately $6,511,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in Affirm in the 2nd quarter valued at about $449,000. Globeflex Capital L P purchased a new position in shares of Affirm in the 2nd quarter worth approximately $5,986,000. Bank of New York Mellon Corp purchased a new position in shares of Affirm in the 2nd quarter worth approximately $75,121,000. Handelsbanken Fonder AB grew its holdings in shares of Affirm by 6.5% in the second quarter. Handelsbanken Fonder AB now owns 80,200 shares of the company's stock valued at $6,540,000 after acquiring an additional 4,900 shares in the last quarter. Finally, Valeo Financial Advisors LLC bought a new position in shares of Affirm in the second quarter valued at approximately $233,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts recently commented on the company. BMO Capital Markets lifted their price target on Affirm from $86.00 to $101.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Needham & Company LLC raised their target price on Affirm from $90.00 to $100.00 and gave the company a "buy" rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. Sanford C. Bernstein increased their price target on shares of Affirm from $100.00 to $110.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Wells Fargo & Company raised their price objective on shares of Affirm from $89.00 to $96.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Twenty-two research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $99.20.
Check Out Our Latest Report on Affirm
Affirm Price Performance
Shares of NASDAQ AFRM opened at $69.94 on Wednesday. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. The stock has a fifty day simple moving average of $77.45 and a two-hundred day simple moving average of $64.84. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $93.20. The firm has a market cap of $23.42 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 2.91 and a beta of 3.61.
Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company posted $0.20 earnings per share. The business's revenue was up 33.1% on a year-over-year basis. Analysts anticipate that Affirm Holdings, Inc. will post 1.8 earnings per share for the current year.
Insiders Place Their Bets
In related news, COO Michael Linford sold 79,219 shares of the business's stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $90.01, for a total value of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. The trade was a 39.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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
(
Free Report)
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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