Royal Bank of Canada Raises Holdings in Affirm Holdings, Inc. $AFRM

Royal Bank of Canada lifted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 318,783 shares of the company’s stock after purchasing an additional 24,583 shares during the period. Royal Bank of Canada’s holdings in Affirm were worth $14,607,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in AFRM. Empowered Funds LLC grew its stake in Affirm by 246.9% during the 1st quarter. Empowered Funds LLC now owns 46,165 shares of the company’s stock worth $2,115,000 after buying an additional 32,857 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Affirm by 4.2% in the first quarter. The Manufacturers Life Insurance Company now owns 14,721 shares of the company’s stock valued at $675,000 after acquiring an additional 600 shares during the period. Ardmore Road Asset Management LP grew its position in shares of Affirm by 849.6% during the first quarter. Ardmore Road Asset Management LP now owns 600,000 shares of the company’s stock worth $27,492,000 after acquiring an additional 536,814 shares during the last quarter. Quadcap Wealth Management LLC grew its position in shares of Affirm by 26.9% during the first quarter. Quadcap Wealth Management LLC now owns 8,696 shares of the company’s stock worth $398,000 after acquiring an additional 1,843 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Affirm in the 1st quarter valued at $3,677,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was 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 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 that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AFRM. Morgan Stanley set a $79.00 price target on shares of Affirm and gave the stock an “overweight” rating in a research note on Sunday, May 10th. Oppenheimer restated an “outperform” rating and issued a $87.00 price objective on shares of Affirm in a research note on Friday, May 8th. Citigroup upped their target price on shares of Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, July 1st. Truist Financial raised their price target on Affirm from $80.00 to $83.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Cantor Fitzgerald boosted their price target on Affirm from $80.00 to $88.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Three research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $92.74.

Affirm Stock Performance

Shares of AFRM opened at $75.25 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The stock has a market capitalization of $25.20 billion, a P/E ratio of 68.41, a P/E/G ratio of 3.12 and a beta of 3.71. The company’s fifty day moving average is $75.19 and its two-hundred day moving average is $63.50. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business’s revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $0.01 EPS. On average, sell-side analysts predict that Affirm Holdings, Inc. will post 1.23 earnings per share for the current year.

Affirm Company 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.