Franklin Resources Inc. Raises Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Franklin Resources Inc. grew its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 29.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,893 shares of the company’s stock after purchasing an additional 2,015 shares during the period. Franklin Resources Inc.’s holdings in Affirm were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Affirm by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock valued at $1,328,568,000 after purchasing an additional 716,574 shares during the period. Norges Bank purchased a new position in shares of Affirm during the fourth quarter worth about $139,949,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 3.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock valued at $138,368,000 after acquiring an additional 68,848 shares during the period. Bank of New York Mellon Corp grew its position in Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock worth $53,902,000 after purchasing an additional 5,169 shares during the last quarter. Finally, Artemis Investment Management LLP raised its stake in Affirm by 2.1% during the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after acquiring an additional 15,517 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Affirm

In related news, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total transaction of $730,556.08. Following the transaction, the director now directly owns 45,432 shares of the company’s stock, valued at $2,063,067.12. This trade represents a 26.15 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,762 shares of company stock worth $3,241,246. 12.41% of the stock is currently owned by insiders.

Affirm Price Performance

Affirm stock opened at $40.76 on Thursday. The stock’s 50 day moving average is $54.27 and its 200-day moving average is $55.98. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of -62.71 and a beta of 3.68. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Equities research analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on AFRM. Morgan Stanley boosted their target price on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. TD Cowen assumed coverage on shares of Affirm in a research report on Tuesday, April 8th. They set a “buy” rating and a $50.00 target price on the stock. Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. Barclays increased their price objective on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, William Blair started coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating for the company. Eight analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.74.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.