Syntegra Private Wealth Group LLC Invests $28,000 in Affirm Holdings, Inc. $AFRM

Key Points

• Syntegra Private Wealth Group disclosed a new position in Affirm, buying 29,000 shares worth about $28,000 in the first quarter.
• Institutional ownership in Affirm remains high, with several large funds also adding or building stakes and 69.29% of the stock now held by institutions.
• Affirm reported strong quarterly results, posting $0.30 EPS versus $0.17 expected and 32.7% year-over-year revenue growth, while analysts maintain a Moderate Buy consensus with an average target price of $88.20.

Syntegra Private Wealth Group LLC bought a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 29,000 shares of the company's stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Norges Bank acquired a new position in shares of Affirm during the 4th quarter valued at $281,961,000. Invesco Ltd. grew its holdings in Affirm by 294.2% in the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company's stock worth $316,706,000 after purchasing an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Affirm by 11,042.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company's stock worth $157,004,000 after purchasing an additional 2,141,881 shares during the period. Atreides Management LP grew its holdings in Affirm by 543.3% in the second quarter. Atreides Management LP now owns 1,977,882 shares of the company's stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. Finally, State Street Corp increased its stake in Affirm by 26.7% in the third quarter. State Street Corp now owns 5,641,965 shares of the company's stock valued at $412,315,000 after purchasing an additional 1,187,665 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of the firm's stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,000 shares of company stock valued at $8,244,000 over the last three months. 11.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on AFRM shares. Truist Financial upped their price objective on shares of Affirm from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Piper Sandler assumed coverage on Affirm in a research report on Monday. They issued an "overweight" rating and a $103.00 target price for the company. Stephens boosted their target price on Affirm from $55.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Cantor Fitzgerald increased their price target on Affirm from $61.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Finally, Morgan Stanley set a $79.00 target price on Affirm and gave the stock an "overweight" rating in a research report on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $88.20.

Affirm Stock Performance

Shares of AFRM opened at $84.58 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The stock has a 50 day moving average price of $69.68 and a two-hundred day moving average price of $63.29. The firm has a market capitalization of $28.33 billion, a P/E ratio of 76.89, a P/E/G ratio of 3.48 and a beta of 3.67. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Equities analysts forecast that Affirm Holdings, Inc. will post 1.24 earnings per share for the current fiscal year.

About Affirm

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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