Teacher Retirement System of Texas Has $2.56 Million Stake in Affirm Holdings, Inc. $AFRM

Teacher Retirement System of Texas reduced its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 30.5% during the third quarter, HoldingsChannel reports. The firm owned 35,066 shares of the company’s stock after selling 15,397 shares during the period. Teacher Retirement System of Texas’ holdings in Affirm were worth $2,563,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Huntington National Bank boosted its position in Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock valued at $27,000 after acquiring an additional 336 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Affirm during the 3rd quarter valued at about $29,000. SouthState Corp grew its stake in Affirm by 190.5% during the second quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares during the period. Blume Capital Management Inc. increased its holdings in Affirm by 468.8% in the second quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after purchasing an additional 375 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Affirm in the third quarter worth approximately $43,000. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 711,256 shares of company stock worth $57,231,923 in the last 90 days. Corporate insiders own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of research analyst reports. Wolfe Research initiated coverage on Affirm in a report on Tuesday, December 9th. They set a “peer perform” rating on the stock. TD Cowen reissued a “buy” rating on shares of Affirm in a research note on Thursday, January 8th. Morgan Stanley decreased their price target on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Redburn Partners set a $101.00 price objective on shares of Affirm in a report on Monday, October 6th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a research note on Monday, December 29th. Three analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $89.44.

Affirm Stock Down 3.9%

Affirm stock opened at $62.80 on Friday. The firm has a market capitalization of $20.73 billion, a price-to-earnings ratio of 93.73, a price-to-earnings-growth ratio of 2.96 and a beta of 3.57. The firm’s fifty day moving average price is $72.45 and its two-hundred day moving average price is $74.45. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The company had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. During the same quarter in the prior year, the business posted ($0.31) EPS. The firm’s revenue was up 33.6% compared to the same quarter last year. On average, equities research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

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.