Capital World Investors Raises Stake in Affirm Holdings, Inc. $AFRM

Capital World Investors increased its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,710,914 shares of the company’s stock after purchasing an additional 507,224 shares during the period. Capital World Investors owned 0.07% of Affirm worth $1,615,953,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada raised its holdings in shares of Affirm by 2.1% in the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after acquiring an additional 3,892 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Affirm by 90.7% in the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after acquiring an additional 8,014 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of Affirm in the 1st quarter valued at about $243,000. EverSource Wealth Advisors LLC raised its holdings in shares of Affirm by 18.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after acquiring an additional 427 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of Affirm by 44.8% in the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after acquiring an additional 59,297 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

Shares of Affirm stock opened at $63.61 on Friday. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $21.30 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 3.66 and a beta of 3.70. The business’s 50-day moving average price is $60.91 and its 200-day moving average price is $62.38. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $100.00.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 EPS. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Truist Financial raised their price target on Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a report on Friday, March 27th. Citigroup reaffirmed a “buy” rating on shares of Affirm in a report on Wednesday, April 15th. Citizens Jmp lowered their price target on Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a report on Friday, April 17th. Finally, The Goldman Sachs Group cut Affirm from a “buy” rating to a “hold” rating in a report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

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.