Thrivent Financial for Lutherans Sells 28,287 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Thrivent Financial cut its stake in Affirm by 53.4%, selling 28,287 shares and ending the quarter with 24,677 shares valued at $1.803 million.
• Company insiders executed large sales on Jan. 5 — CFO Robert O'Hare sold 36,401 shares and CEO Max Levchin sold 666,666 shares — with insiders offloading 711,256 shares (~$57.2M) over the past three months.
• Affirm beat quarterly estimates (EPS $0.37 vs. $0.28; revenue $1.12B, +29.6% YoY) but the stock traded down about 5% to $56.54; analysts' consensus is a "Moderate Buy" with an average price target of $86.67.

Thrivent Financial for Lutherans lessened its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 53.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 24,677 shares of the company's stock after selling 28,287 shares during the quarter. Thrivent Financial for Lutherans' holdings in Affirm were worth $1,803,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Royal Bank of Canada lifted its stake in Affirm by 2.1% in the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company's stock worth $8,748,000 after purchasing an additional 3,892 shares in the last quarter. Empowered Funds LLC boosted its stake in Affirm by 90.7% during the first quarter. Empowered Funds LLC now owns 16,852 shares of the company's stock valued at $762,000 after buying an additional 8,014 shares during the period. Focus Partners Wealth purchased a new position in Affirm during the first quarter worth about $243,000. Callan Family Office LLC bought a new position in Affirm in the 2nd quarter worth about $292,000. Finally, Apollon Wealth Management LLC raised its holdings in shares of Affirm by 17.2% in the 2nd quarter. Apollon Wealth Management LLC now owns 6,123 shares of the company's stock valued at $423,000 after acquiring an additional 900 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Insider Transactions at Affirm

In related news, CFO Robert O'hare sold 36,401 shares of Affirm stock in a transaction that occurred 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 sale, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by insiders.

Affirm Trading Down 5.2%

AFRM opened at $56.54 on Thursday. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. The business has a 50 day simple moving average of $70.90 and a two-hundred day simple moving average of $74.06. The firm has a market capitalization of $18.66 billion, a price-to-earnings ratio of 69.80, a PEG ratio of 2.23 and a beta of 3.56.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.23 earnings per share. The business's revenue was up 29.6% compared to the same quarter last year. Analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AFRM. Truist Financial decreased their price objective on shares of Affirm from $90.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, November 19th. Citigroup upgraded shares of Affirm to a "strong-buy" rating in a research report on Thursday, October 23rd. Oppenheimer lowered their price target on Affirm from $95.00 to $83.00 and set an "outperform" rating on the stock in a research report on Friday, February 6th. Evercore reiterated an "outperform" rating on shares of Affirm in a report on Tuesday, December 16th. Finally, Mizuho dropped their target price on Affirm from $114.00 to $95.00 and set an "outperform" rating for the company in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, Affirm has an average rating of "Moderate Buy" and an average price target of $86.67.

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.

Want to see what other hedge funds are holding AFRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.