Capital Research Global Investors Lowers Position in Affirm Holdings, Inc. $AFRM

Capital Research Global Investors decreased its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.8% during the third quarter, according to its most recent filing with the SEC. The firm owned 23,041,703 shares of the company’s stock after selling 658,594 shares during the period. Capital Research Global Investors owned about 0.07% of Affirm worth $1,683,994,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Federated Hermes Inc. purchased a new position in Affirm during the third quarter valued at $19,077,000. Resona Asset Management Co. Ltd. purchased a new position in Affirm during the 3rd quarter valued at about $6,036,000. Gateway Investment Advisers LLC bought a new stake in Affirm during the third quarter worth about $1,315,000. Envestnet Asset Management Inc. grew its holdings in Affirm by 26.1% in the third quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock worth $17,185,000 after purchasing an additional 48,734 shares during the period. Finally, Norges Bank bought a new position in shares of Affirm during the second quarter valued at approximately $183,475,000. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 1.7%

Affirm stock opened at $50.81 on Tuesday. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The stock has a fifty day moving average of $62.81 and a 200 day moving average of $71.04. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. The stock has a market cap of $16.93 billion, a PE ratio of 62.73, a price-to-earnings-growth ratio of 1.89 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the previous year, the company posted $0.23 EPS. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The SEC filing for this sale provides additional information. 11.01% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

AFRM has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price objective on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research report on Friday, February 6th. Evercore reaffirmed an “outperform” rating on shares of Affirm in a research report on Tuesday, December 16th. The Goldman Sachs Group downgraded shares of Affirm from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Stephens dropped their target price on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, February 6th. Finally, TD Cowen restated a “buy” rating on shares of Affirm in a report on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.36.

Affirm 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.