Mitsubishi UFJ Trust & Banking Corp Takes $7.92 Million Position in Affirm Holdings, Inc. $AFRM

Mitsubishi UFJ Trust & Banking Corp acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, Holdings Channel reports. The fund acquired 108,390 shares of the company’s stock, valued at approximately $7,921,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Huntington National Bank raised its position in Affirm by 634.0% in the second quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after purchasing an additional 336 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Affirm in the 3rd quarter worth approximately $29,000. SouthState Corp raised its holdings in shares of Affirm by 190.5% in the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after buying an additional 280 shares in the last quarter. Blume Capital Management Inc. lifted its position in shares of Affirm by 468.8% during the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after buying an additional 375 shares during the period. Finally, Quent Capital LLC acquired a new stake in Affirm in the 3rd quarter valued at $43,000. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 711,256 shares of company stock valued at $57,231,923 over the last three months. Insiders own 11.01% of the company’s stock.

Affirm Trading Down 5.0%

AFRM opened at $65.36 on Thursday. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00. The firm has a 50-day moving average price of $72.45 and a two-hundred day moving average price of $74.53. The stock has a market capitalization of $21.57 billion, a PE ratio of 97.55, a PEG ratio of 3.12 and a beta of 3.57. 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 issued its quarterly earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, beating 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 business had revenue of $933.34 million during the quarter, compared to analyst estimates of $881.83 million. During the same quarter last year, the business posted ($0.31) earnings per share. Affirm’s revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have issued reports on AFRM. Citigroup upgraded Affirm to a “strong-buy” rating in a research note on Thursday, October 23rd. The Goldman Sachs Group dropped their target price on shares of Affirm from $105.00 to $94.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wolfe Research initiated coverage on shares of Affirm in a research report on Tuesday, December 9th. They issued a “peer perform” rating on the stock. Wells Fargo & Company started coverage on shares of Affirm in a report on Tuesday, October 21st. They set an “overweight” rating and a $89.00 price objective for the company. Finally, BTIG Research reiterated a “neutral” rating on shares of Affirm in a research note on Wednesday, December 17th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $89.44.

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.