Swiss National Bank Buys 291,500 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Swiss National Bank increased its stake in Affirm by 60.7%, buying an additional 291,500 shares to hold 771,800 shares (about $56.4 million, ~0.24% of the company) as of the latest SEC filing.
• Insider sales: CEO Max R. Levchin sold 666,666 shares for roughly $53.75 million and CFO Robert O'Hare sold 36,401 shares (~$2.91 million), with corporate insiders now owning 11.01% of the stock.
• Solid quarterly results—Affirm reported $0.37 EPS vs. $0.28 expected and $1.12B revenue (up 29.6% YoY), and analysts maintain a consensus rating of "Moderate Buy" with a $84.36 average price target amid mixed price-target and rating revisions.

Swiss National Bank increased its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 60.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 771,800 shares of the company's stock after acquiring an additional 291,500 shares during the period. Swiss National Bank owned about 0.24% of Affirm worth $56,403,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Schroder Investment Management Group purchased a new position in shares of Affirm in the 3rd quarter worth about $596,000. Inceptionr LLC purchased a new position in shares of Affirm during the 3rd quarter valued at about $256,000. Jefferies Financial Group Inc. raised its holdings in shares of Affirm by 1,161.2% during the 3rd quarter. Jefferies Financial Group Inc. now owns 171,269 shares of the company's stock valued at $12,516,000 after buying an additional 157,689 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new stake in Affirm in the 3rd quarter worth approximately $1,182,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Affirm in the 3rd quarter worth approximately $1,213,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Insider Buying and Selling at Affirm

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert O'hare sold 36,401 shares of the firm's stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 11.01% of the company's stock.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of Affirm in a research report on Tuesday, December 9th. They set a "peer perform" rating on the stock. Wall Street Zen lowered shares of Affirm from a "buy" rating to a "hold" rating in a report on Saturday, January 3rd. Robert W. Baird started coverage on shares of Affirm in a research note on Thursday, February 19th. They issued a "neutral" rating and a $55.00 price objective for the company. JPMorgan Chase & Co. decreased their target price on shares of Affirm from $94.00 to $79.00 and set an "overweight" rating on the stock in a research report on Friday, February 6th. Finally, Truist Financial lowered their price target on shares of Affirm from $85.00 to $71.00 and set a "buy" rating for the company in a research note on Friday, February 20th. Twenty investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Affirm currently has a consensus rating of "Moderate Buy" and a consensus price target of $84.36.

Affirm Price Performance

Shares of Affirm stock opened at $50.79 on Thursday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The business's 50 day simple moving average is $61.81 and its two-hundred day simple moving average is $70.69. The stock has a market capitalization of $16.92 billion, a P/E ratio of 62.70, a price-to-earnings-growth ratio of 1.82 and a beta of 3.61.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts' consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. The business's quarterly revenue was up 29.6% compared to the same quarter last year. Analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Affirm Profile

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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