95,856 Shares in Affirm Holdings, Inc. $AFRM Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 95,856 shares of the company’s stock, valued at approximately $7,673,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AFRM. Huntington National Bank lifted its position in shares of Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after purchasing an additional 336 shares during the last quarter. Mather Group LLC. purchased a new position in Affirm in the third quarter valued at $29,000. SouthState Corp raised its stake in Affirm by 190.5% in the second quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after buying an additional 280 shares in the last quarter. Blume Capital Management Inc. lifted its holdings in Affirm by 468.8% during the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after buying an additional 375 shares during the last quarter. Finally, UMB Bank n.a. boosted its position in shares of Affirm by 86.6% during the 2nd quarter. UMB Bank n.a. now owns 569 shares of the company’s stock worth $39,000 after acquiring an additional 264 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Up 0.9%

Shares of AFRM opened at $71.76 on Thursday. The firm has a market capitalization of $23.69 billion, a P/E ratio of 107.10, a PEG ratio of 3.22 and a beta of 3.57. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The firm’s 50-day moving average is $72.36 and its two-hundred day moving average is $74.49. 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 (NASDAQ:AFRM) last announced its earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The firm had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.Affirm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.31) EPS. On average, research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. This represents a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 711,256 shares of company stock valued at $57,231,923 in the last ninety days. 11.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup raised Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Evercore ISI restated an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a research report on Wednesday, December 17th. Bank of America lifted their price target on shares of Affirm from $94.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. Finally, Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

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.