VIRGINIA RETIREMENT SYSTEMS ET Al Takes Position in Affirm Holdings, Inc. $AFRM

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 75,511 shares of the company’s stock, valued at approximately $6,158,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Greenline Wealth Management LLC acquired a new position in Affirm in the 4th quarter worth $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm in the first quarter valued at about $28,000. Triumph Capital Management acquired a new position in shares of Affirm during the third quarter worth about $31,000. Strive Financial Group LLC bought a new position in shares of Affirm during the fourth quarter worth about $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Affirm during the 1st quarter worth approximately $34,000. 69.29% of the stock is owned by institutional investors.

Affirm Stock Performance

AFRM opened at $72.08 on Wednesday. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $92.56. The business has a 50 day moving average of $76.81 and a 200-day moving average of $65.63. The stock has a market cap of $24.32 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 2.96 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the business earned $0.20 EPS. The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. On average, equities research analysts expect that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Insider Transactions at Affirm

In other Affirm 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 value of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Katherine Adkins sold 41,664 shares of the firm’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the sale, the insider owned 152,439 shares of the company’s stock, valued at $11,513,717.67. This trade represents a 21.46% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 262,547 shares of company stock worth $21,220,779. 11.01% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on AFRM. BTIG Research reissued a “neutral” rating on shares of Affirm in a research report on Tuesday, May 26th. Cantor Fitzgerald boosted their price target on shares of Affirm from $88.00 to $97.00 and gave the stock an “overweight” rating in a research report on Monday, August 31st. Scotiabank initiated coverage on shares of Affirm in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $95.00 price objective for the company. Truist Financial lifted their target price on Affirm from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Finally, Oppenheimer increased their price target on Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average target price of $99.33.

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.