J. Safra Sarasin Holding AG Purchases New Shares in Affirm Holdings, Inc. $AFRM

J. Safra Sarasin Holding AG acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 37,724 shares of the company’s stock, valued at approximately $2,861,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AFRM. Federated Hermes Inc. purchased a new position in Affirm in the third quarter worth $19,077,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Affirm during the 3rd quarter valued at $6,036,000. Gateway Investment Advisers LLC bought a new stake in shares of Affirm during the 3rd quarter worth $1,315,000. Envestnet Asset Management Inc. raised its stake in shares of Affirm by 26.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock worth $17,185,000 after purchasing an additional 48,734 shares during the period. Finally, Norges Bank purchased a new position in shares of Affirm in the 2nd quarter worth about $183,475,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on AFRM. TD Cowen reaffirmed a “buy” rating on shares of Affirm in a research report on Friday, February 6th. Stephens lowered their price target on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, February 6th. JPMorgan Chase & Co. dropped their price objective on Affirm from $94.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 6th. Oppenheimer decreased their target price on Affirm from $95.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Finally, Citigroup restated a “market outperform” rating on shares of Affirm in a research note on Tuesday, February 24th. Nineteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Affirm has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Insider Activity

In other news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The SEC filing for this sale provides additional information. 11.01% of the stock is owned by company insiders.

Affirm Stock Up 6.5%

Affirm stock opened at $45.82 on Wednesday. The firm has a 50 day simple moving average of $52.95 and a 200 day simple moving average of $66.78. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00. The firm has a market capitalization of $15.26 billion, a price-to-earnings ratio of 56.57, a P/E/G ratio of 1.59 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period last year, the company earned $0.23 earnings per share. On average, analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

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.