Independent Financial Group LLC Makes New $507,000 Investment in Affirm Holdings, Inc. $AFRM

Independent Financial Group LLC purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 11,062 shares of the company’s stock, valued at approximately $507,000.

Other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. increased its holdings in shares of Affirm by 83.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock worth $3,610,000 after purchasing an additional 22,054 shares during the period. Capelight Capital Asset Management LP bought a new stake in shares of Affirm in the fourth quarter valued at about $4,912,000. Geode Capital Management LLC lifted its stake in shares of Affirm by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock valued at $408,433,000 after buying an additional 329,312 shares during the period. Vanguard Group Inc. lifted its stake in shares of Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock valued at $1,849,378,000 after buying an additional 428,138 shares during the period. Finally, J. Safra Sarasin Holding AG acquired a new stake in Affirm during the fourth quarter worth about $2,861,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. The trade was a 5.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Affirm Stock Performance

NASDAQ AFRM opened at $71.21 on Friday. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a market cap of $23.85 billion, a P/E ratio of 64.74, a PEG ratio of 3.01 and a beta of 3.67. The company’s 50-day simple moving average is $73.83 and its 200 day simple moving average is $63.72.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million during 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 for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. As a group, research analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

AFRM has been the topic of several research reports. Citigroup boosted their price target on Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research note on Wednesday, July 1st. Citizens Jmp decreased their price objective on Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a report on Friday, April 17th. BMO Capital Markets initiated coverage on Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 price objective on the stock. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Finally, Mizuho raised their target price on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.63.

Affirm 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.