World Investment Advisors Purchases 12,305 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• World Investment Advisors increased its stake in Affirm by 59.8% in the first quarter, buying 12,305 additional shares and bringing its total holding to 32,893 shares worth about $1.5 million.
• Affirm shares were down 2.5% in the session, even as the stock traded near $83.62, well above its 52-week low of $42.10 and below its 52-week high of $100.00.
• The company beat quarterly EPS expectations with $0.30 per share versus $0.17 expected, while revenue rose 32.7% year over year; analysts remain broadly positive with a consensus Moderate Buy rating and average price target of $88.48.

World Investment Advisors lifted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 59.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,893 shares of the company's stock after acquiring an additional 12,305 shares during the period. World Investment Advisors' holdings in Affirm were worth $1,507,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Affirm in the fourth quarter worth approximately $281,961,000. Invesco Ltd. boosted 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 last quarter. Northwestern Mutual Wealth Management Co. grew its position in Affirm by 11,042.3% in the 4th 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 raised its stake in Affirm by 543.3% during the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company's stock valued at $136,751,000 after buying an additional 1,670,429 shares during the last quarter. Finally, State Street Corp lifted its holdings in shares of Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company's stock valued at $412,315,000 after buying an additional 1,187,665 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Down 2.5%

NASDAQ AFRM opened at $83.62 on Wednesday. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $100.00. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a market cap of $28.00 billion, a PE ratio of 76.02, a P/E/G ratio of 3.53 and a beta of 3.67. The stock's 50 day moving average is $70.54 and its 200 day moving average is $63.44.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings data 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. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same quarter last year, the business posted $0.01 earnings per share. The business's quarterly revenue was up 32.7% compared to the same quarter last year. Research analysts predict that Affirm Holdings, Inc. will post 1.24 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently commented on the company. Susquehanna upped their price objective on Affirm from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, June 25th. Cantor Fitzgerald boosted their price target on Affirm from $61.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday, April 21st. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Affirm in a research report on Wednesday, June 24th. BTIG Research reiterated a "neutral" rating on shares of Affirm in a research note on Tuesday, May 26th. Finally, Morgan Stanley set a $79.00 price objective on shares of Affirm and gave the stock an "overweight" rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $88.48.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the business's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares of the company's stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the business's stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares of the company's stock, valued at approximately $9,443,439.36. This trade represents a 45.87% 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. Over the last ninety days, insiders have sold 104,000 shares of company stock valued at $8,244,000. 11.01% of the stock is owned by corporate insiders.

Affirm Company 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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