Sumitomo Life Insurance Co. Purchases New Holdings in Affirm Holdings, Inc. $AFRM

Sumitomo Life Insurance Co. purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 61,100 shares of the company’s stock, valued at approximately $4,548,000.

Several other institutional investors have also made changes to their positions in AFRM. Royal Bank of Canada boosted its stake in shares of Affirm by 2.1% in the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after buying an additional 3,892 shares during the period. Empowered Funds LLC boosted its stake in shares of Affirm by 90.7% in 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 bought a new stake in shares of Affirm in the first quarter valued at approximately $243,000. EverSource Wealth Advisors LLC boosted its stake in shares of Affirm by 18.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after buying an additional 427 shares during the period. Finally, First Trust Advisors LP boosted its stake in shares of Affirm by 44.8% in the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after buying an additional 59,297 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

NASDAQ AFRM opened at $66.17 on Friday. The firm’s fifty day moving average price is $63.02 and its two-hundred day moving average price is $62.38. The stock has a market cap of $22.16 billion, a PE ratio of 60.15, a PEG ratio of 3.83 and a beta of 3.70. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The company’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 earnings per share. On average, equities analysts expect that Affirm Holdings, Inc. will post 1.25 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm 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 sale, the director 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Robert W. Baird set a $70.00 price target on Affirm in a research note on Friday, May 8th. UBS Group boosted their price objective on shares of Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. Stephens boosted their price objective on shares of Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Compass Point restated a “buy” rating and set a $68.00 price objective on shares of Affirm in a research report on Wednesday, February 18th. Finally, Truist Financial boosted their price objective on shares of Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, Affirm presently has an average rating of “Moderate Buy” and a consensus price target of $86.20.

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.