Vanguard Group Inc. Boosts Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Vanguard Group Inc. has increased its stake in Affirm Holdings, Inc. by 6.7% during the first quarter, now owning 23.27 million shares valued at over $1 billion.
• Affirm’s current market cap is approximately $23.54 billion, and its shares opened at $72.97, with a 1-year performance range between $24.67 and $82.53.
• Insider trading activity has been notable, with Affirm's CFO selling nearly 20,000 shares, while company insiders collectively own 11.82% of the stock.

Vanguard Group Inc. lifted its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 23,272,997 shares of the company's stock after purchasing an additional 1,457,434 shares during the period. Vanguard Group Inc. owned 7.32% of Affirm worth $1,051,707,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS raised its stake in Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock worth $2,219,000 after acquiring an additional 200 shares during the last quarter. Allworth Financial LP grew its position in Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares during the period. HB Wealth Management LLC grew its position in Affirm by 2.2% during the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock worth $518,000 after purchasing an additional 252 shares during the period. Amalgamated Bank grew its position in Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock worth $622,000 after purchasing an additional 280 shares during the period. Finally, M&T Bank Corp grew its position in Affirm by 1.9% during the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company's stock worth $968,000 after purchasing an additional 389 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Price Performance

Shares of Affirm stock traded up $1.19 on Friday, hitting $78.21. 2,367,466 shares of the company were exchanged, compared to its average volume of 7,098,955. Affirm Holdings, Inc. has a 1-year low of $28.15 and a 1-year high of $82.53. The stock has a market capitalization of $25.23 billion, a price-to-earnings ratio of -372.38, a price-to-earnings-growth ratio of 2.88 and a beta of 3.63. The company has a 50-day moving average price of $67.43 and a 200 day moving average price of $58.29. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 59,267 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $75.02, for a total transaction of $4,446,210.34. Following the completion of the transaction, the insider owned 113,400 shares of the company's stock, valued at $8,507,268. This trade represents a 34.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the company's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the transaction, the director owned 36,497 shares in the company, valued at $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 163,114 shares of company stock valued at $11,825,169 in the last ninety days. 11.82% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Susquehanna increased their price target on Affirm from $65.00 to $76.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Affirm in a research note on Thursday, July 17th. They issued a "buy" rating and a $78.00 target price for the company. Needham & Company LLC reiterated a "hold" rating on shares of Affirm in a research note on Wednesday, July 2nd. Morgan Stanley decreased their target price on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, BTIG Research cut Affirm from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $68.09.

Affirm Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.