87,921 Shares in Affirm Holdings, Inc. $AFRM Purchased by Nykredit A S

Nykredit A S acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 87,921 shares of the company’s stock, valued at approximately $7,170,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFRM. Proficio Capital Partners LLC purchased a new position in shares of Affirm in the 2nd quarter valued at approximately $216,000. F&V Capital Management LLC purchased a new stake in Affirm in the second quarter worth $279,000. Ancora Advisors LLC raised its holdings in Affirm by 57.1% in the second quarter. Ancora Advisors LLC now owns 5,500 shares of the company’s stock worth $449,000 after purchasing an additional 2,000 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Affirm in the second quarter worth $6,511,000. Finally, Globeflex Capital L P purchased a new position in Affirm during the second quarter valued at $5,986,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on AFRM shares. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley upped their price objective on shares of Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday, August 28th. UBS Group raised their target price on shares of Affirm from $82.00 to $90.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Royal Bank Of Canada lifted their target price on shares of Affirm from $80.00 to $96.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Finally, Cantor Fitzgerald boosted their price target on Affirm from $88.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Twenty-three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.12.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider directly owned 152,439 shares in the company, valued at $11,513,717.67. This represents a 21.46% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through 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 on Friday, June 26th. The stock was 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 in the company, valued at $9,443,439.36. This represents a 45.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 262,547 shares of company stock worth $21,220,779. 11.01% of the stock is owned by insiders.

Affirm Trading Down 2.6%

Affirm stock opened at $72.35 on Friday. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $93.20. The company has a market cap of $24.41 billion, a P/E ratio of 13.11, a P/E/G ratio of 2.96 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The business has a 50-day simple moving average of $77.19 and a two-hundred day simple moving average of $65.24.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same period last year, the firm earned $0.20 earnings per share. Analysts predict that Affirm Holdings, Inc. will post 1.87 EPS for the current year.

Key Stories Impacting Affirm

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Analyst support remains strong: Mizuho Securities initiated or reiterated a Buy rating for Affirm, while Truist raised its price target from $83 to $85 and maintained a Buy rating. Scotiabank also began coverage with a Sector Outperform recommendation. These actions reinforce the bullish view that Affirm can continue expanding its payments and lending business. Affirm Receives a Buy from Mizuho Securities Scotiabank Initiates Coverage of Affirm
• Positive Sentiment: Demand may be benefiting from consumer pressure: Inflation and elevated gas costs are encouraging consumers to use installment-payment products, potentially supporting transaction volume and revenue growth. Affirm’s disciplined underwriting is viewed as a way to limit rising credit risk. Consumer Pressure Rises, but Demand for Affirm’s Services Also Rises
• Neutral Sentiment: Recent fundamentals provide support: Affirm’s latest quarterly revenue increased 33.1% year over year, and reported EPS substantially exceeded consensus estimates, although revenue was below expectations. Analysts overall maintain a Moderate Buy consensus, with an average price target of $99.12.
• Negative Sentiment: Insider selling is a near-term overhang: COO and director-level insider sales totaling roughly $10 million were reported, including Katherine Adkins’ sale of 41,664 shares. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their value as a signal of current management sentiment but may still pressure the stock.

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.