Affirm Holdings, Inc. (NASDAQ:AFRM) Holdings Raised by KBC Group NV

KBC Group NV boosted its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.5% in the first quarter, Holdings Channel reports. The institutional investor owned 10,525 shares of the company’s stock after acquiring an additional 827 shares during the quarter. KBC Group NV’s holdings in Affirm were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AFRM. Capital Research Global Investors increased its stake in shares of Affirm by 2.0% during the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after purchasing an additional 470,409 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after purchasing an additional 716,574 shares during the last quarter. Capital World Investors increased its stake in shares of Affirm by 0.4% during the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after purchasing an additional 72,582 shares during the last quarter. Durable Capital Partners LP increased its stake in shares of Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its stake in shares of Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after purchasing an additional 538,892 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other news, Director Christa S. Quarles sold 754 shares of the firm’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total transaction of $50,842.22. Following the completion of the transaction, the director directly owned 137,241 shares of the company’s stock, valued at approximately $9,254,160.63. This trade represents a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $51.00, for a total transaction of $820,539.00. Following the transaction, the director directly owned 29,343 shares of the company’s stock, valued at $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,343 shares of company stock valued at $1,023,531. Company insiders own 11.82% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on AFRM shares. Compass Point upgraded shares of Affirm from a “neutral” rating to a “buy” rating and increased their price target for the stock from $61.00 to $64.00 in a research note on Wednesday, March 19th. The Goldman Sachs Group raised their target price on shares of Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Monday, May 12th. UBS Group lowered their target price on shares of Affirm from $62.00 to $56.00 and set a “neutral” rating on the stock in a research note on Friday, May 9th. TD Cowen assumed coverage on shares of Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research note on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $65.67.

Affirm Price Performance

NASDAQ:AFRM opened at $69.04 on Friday. The company has a 50-day moving average of $56.76 and a 200-day moving average of $56.41. The company has a market capitalization of $22.27 billion, a price-to-earnings ratio of -328.74, a PEG ratio of 2.42 and a beta of 3.63. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) EPS. As a group, equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Affirm 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.