Pictet Asset Management Holding SA Decreases Holdings in Affirm Holdings, Inc. $AFRM

Pictet Asset Management Holding SA reduced its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% in the 1st quarter, HoldingsChannel reports. The fund owned 95,258 shares of the company’s stock after selling 11,535 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Affirm were worth $4,365,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in AFRM. Vanguard Group Inc. raised its position in shares of Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after acquiring an additional 428,138 shares in the last quarter. Capital Research Global Investors boosted its holdings in Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after purchasing an additional 104,239 shares in the last quarter. Capital World Investors increased its stake in Affirm by 2.4% in the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after purchasing an additional 507,224 shares during the last quarter. Durable Capital Partners LP increased its stake in Affirm by 12.3% in the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after purchasing an additional 808,455 shares during the last quarter. Finally, State Street Corp raised its holdings in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value 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 SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,000 shares of company stock valued at $8,244,000 over the last ninety days. Corporate insiders own 11.01% of the company’s stock.

Affirm Price Performance

AFRM stock opened at $84.58 on Friday. The company has a market cap of $28.33 billion, a price-to-earnings ratio of 76.89, a price-to-earnings-growth ratio of 3.48 and a beta of 3.67. The company has a fifty day moving average price of $69.68 and a 200 day moving average price of $63.29. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $100.00.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. Affirm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the firm posted $0.01 EPS. Sell-side analysts expect that Affirm Holdings, Inc. will post 1.24 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on AFRM. Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a research report on Wednesday, June 24th. Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Mizuho boosted their price target on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. BMO Capital Markets began coverage on shares of Affirm in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 price objective for the company. Finally, Truist Financial raised their price objective on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $88.20.

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.