Nisa Investment Advisors LLC Reduces Position in Affirm Holdings, Inc. $AFRM

Nisa Investment Advisors LLC trimmed its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 20.4% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 37,718 shares of the company’s stock after selling 9,642 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Affirm were worth $2,756,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal Bank of Canada raised its holdings in shares of Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares during the last quarter. Empowered Funds LLC grew its position in Affirm by 90.7% in the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after purchasing an additional 8,014 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Affirm by 8.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 720,730 shares of the company’s stock valued at $32,570,000 after buying an additional 56,401 shares during the last quarter. Focus Partners Wealth bought a new position in shares of Affirm during the 1st quarter valued at $243,000. Finally, Acadian Asset Management LLC lifted its holdings in shares of Affirm by 1,015.5% during the 1st quarter. Acadian Asset Management LLC now owns 42,868 shares of the company’s stock valued at $1,932,000 after buying an additional 39,025 shares during the period. Institutional investors own 69.29% of the company’s stock.

Insider Activity

In related news, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The SEC filing for this sale provides additional information. Insiders sold 711,256 shares of company stock worth $57,231,923 over the last 90 days. Company insiders own 11.01% of the company’s stock.

Affirm Price Performance

NASDAQ AFRM opened at $76.39 on Tuesday. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. Affirm Holdings, Inc. has a 12 month low of $30.90 and a 12 month high of $100.00. The stock has a market cap of $25.21 billion, a price-to-earnings ratio of 114.01, a PEG ratio of 3.71 and a beta of 3.57. The company’s 50 day moving average is $72.36 and its two-hundred day moving average is $74.29.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a net margin of 6.74% and a return on equity of 7.75%. The firm had revenue of $933.34 million during the quarter, compared to analysts’ expectations of $881.83 million. During the same period in the prior year, the company posted ($0.31) earnings per share. The company’s revenue for the quarter was up 33.6% compared to the same quarter last year. As a group, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts recently commented on the company. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a report on Wednesday, December 17th. The Goldman Sachs Group cut their price target on Affirm from $105.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Wall Street Zen cut shares of Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. TD Cowen dropped their price objective on shares of Affirm from $115.00 to $110.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, Truist Financial reduced their target price on shares of Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $89.17.

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.