TD Asset Management Inc Takes $3.25 Million Position in Affirm Holdings, Inc. $AFRM

TD Asset Management Inc acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 44,469 shares of the company’s stock, valued at approximately $3,250,000.

Several other institutional investors have also recently added to or reduced their stakes in AFRM. Assetmark Inc. lifted its stake in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Huntington National Bank raised its holdings in shares of Affirm by 634.0% in the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after buying an additional 336 shares during the period. Mather Group LLC. purchased a new stake in shares of Affirm in the 3rd quarter valued at $29,000. SouthState Corp lifted its stake in Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after acquiring an additional 280 shares in the last quarter. Finally, Quent Capital LLC purchased a new position in Affirm during the 3rd quarter valued at about $43,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insiders Place Their Bets

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

Affirm Trading Up 6.0%

NASDAQ:AFRM opened at $50.72 on Thursday. The company has a market capitalization of $16.90 billion, a PE ratio of 62.62, a P/E/G ratio of 1.76 and a beta of 3.61. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The stock’s 50 day moving average price is $64.25 and its 200 day moving average price is $71.55. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on AFRM. Bank of America increased their price target on shares of Affirm from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Truist Financial decreased their price target on shares of Affirm from $85.00 to $71.00 and set a “buy” rating for the company in a research report on Friday, February 20th. TD Cowen reiterated a “buy” rating on shares of Affirm in a research note on Friday, February 6th. The Goldman Sachs Group lowered Affirm from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. Finally, Mizuho cut their price target on Affirm from $114.00 to $95.00 and set an “outperform” rating on the stock in a report on Monday, February 9th. Twenty equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $85.00.

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.