Swedbank AB Boosts Holdings in Affirm Holdings, Inc. $AFRM

Swedbank AB boosted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 98.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,772 shares of the company’s stock after acquiring an additional 6,844 shares during the period. Swedbank AB’s holdings in Affirm were worth $631,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Greenline Wealth Management LLC purchased a new position in shares of Affirm during the 4th quarter worth approximately $26,000. Triumph Capital Management purchased a new stake in Affirm in the 3rd quarter valued at approximately $31,000. CoreCap Advisors LLC grew its holdings in Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares during the last quarter. Strive Financial Group LLC acquired a new stake in Affirm during the 4th quarter valued at $33,000. Finally, Larson Financial Group LLC increased its position in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred on 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 owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. The trade was 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. Insiders sold 104,000 shares of company stock worth $8,244,000 over the last three months. Corporate insiders own 11.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on AFRM. Wells Fargo & Company boosted their price target on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday. Stephens increased their price objective on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. BMO Capital Markets assumed coverage on shares of Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Citigroup raised their price target on shares of Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.35.

Affirm Trading Down 0.4%

Affirm stock traded down $0.36 during trading on Friday, hitting $83.42. The company’s stock had a trading volume of 3,468,851 shares, compared to its average volume of 4,079,038. The stock’s fifty day moving average is $71.67 and its 200 day moving average is $63.66. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 75.84, a P/E/G ratio of 3.43 and a beta of 3.67. 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 issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $995.27 million. During the same period last year, the company earned $0.01 EPS. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, equities research analysts predict that Affirm Holdings, Inc. will post 1.23 EPS for the current 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.