Royal Fund Management LLC Purchases 74,400 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Royal Fund Management increased its Affirm stake by 1,935.5% in the third quarter, purchasing 74,400 additional shares and ending the period with 78,244 shares worth approximately $5.4 million.
• Analyst sentiment remains favorable: Affirm has a consensus “Moderate Buy” rating, with 24 Buy ratings and eight Holds, and an average price target of $97.69.
• Affirm reported quarterly EPS of $4.62, significantly above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion. However, insiders sold 280,118 shares worth about $22.2 million over the past 90 days.

Royal Fund Management LLC raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1,935.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 78,244 shares of the company's stock after buying an additional 74,400 shares during the period. Royal Fund Management LLC's holdings in Affirm were worth $5,417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. TD Waterhouse Canada Inc. raised its holdings in Affirm by 386.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 51,844 shares of the company's stock worth $4,228,000 after purchasing an additional 41,187 shares during the period. SteelPeak Wealth LLC purchased a new position in Affirm during the first quarter worth approximately $935,000. Dimensional Fund Advisors LP grew its holdings in Affirm by 11.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock valued at $72,100,000 after purchasing an additional 166,252 shares during the period. Nykredit A S acquired a new stake in Affirm in the second quarter valued at approximately $7,170,000. Finally, Royal Bank of Canada grew its holdings in Affirm by 8.4% in the first quarter. Royal Bank of Canada now owns 318,783 shares of the company's stock valued at $14,607,000 after purchasing an additional 24,583 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on AFRM. JPMorgan Chase & Co. upped their target price on Affirm from $90.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. UBS Group lifted their price target on shares of Affirm from $82.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Needham & Company LLC set a $85.00 price target on shares of Affirm in a report on Wednesday, September 16th. Piper Sandler boosted their price target on shares of Affirm from $103.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Finally, Susquehanna upped their price objective on shares of Affirm from $105.00 to $110.00 and gave the stock a "positive" rating in a research report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Affirm currently has an average rating of "Moderate Buy" and a consensus target price of $97.69.

Affirm Price Performance

NASDAQ:AFRM opened at $72.40 on Friday. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $90.44. The stock has a 50 day moving average of $73.43 and a two-hundred day moving average of $71.30. 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 firm has a market cap of $24.43 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 2.95 and a beta of 3.82.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The business's revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. On average, analysts expect that Affirm Holdings, Inc. will post 1.91 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In related news, CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the transaction, the chief accounting officer directly owned 188,711 shares of the company's stock, valued at approximately $13,623,047.09. This represents a 12.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert O'Hare sold 65,591 shares of the stock in a transaction on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the transaction, the chief financial officer directly owned 2,734 shares of the company's stock, valued at approximately $218,774.68. This represents a 96.00% 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. Insiders have sold a total of 280,118 shares of company stock valued at $22,223,307 over the last ninety days. Company insiders own 11.01% of the company's stock.

About Affirm

Affirm Holdings, Inc NASDAQ: AFRM operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm's platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.

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