Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Affirm Holdings, Inc. $AFRM

Northwestern Mutual Wealth Management Co. grew its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 48.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,722 shares of the company’s stock after buying an additional 9,325 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Affirm were worth $2,138,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in AFRM. Envestnet Asset Management Inc. raised its holdings in Affirm by 26.1% during the 3rd 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 last quarter. SBI Securities Co. Ltd. grew its position in shares of Affirm by 83.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock worth $3,610,000 after buying an additional 22,054 shares during the period. Public Sector Pension Investment Board bought a new stake in shares of Affirm during the third quarter worth approximately $7,103,000. Flagship Harbor Advisors LLC bought a new stake in shares of Affirm during the third quarter worth approximately $2,408,000. Finally, Vanguard Group Inc. raised its stake in shares of Affirm by 0.9% during the third quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock worth $1,784,545,000 after buying an additional 223,258 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Affirm Stock Down 7.4%

NASDAQ:AFRM opened at $63.61 on Friday. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The stock has a 50-day moving average price of $60.91 and a two-hundred day moving average price of $62.38. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 57.83, a PEG ratio of 3.95 and a beta of 3.70. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. During the same quarter in the previous year, the business posted $0.01 EPS. Affirm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities analysts expect that Affirm Holdings, Inc. will post 1.25 earnings per share for the current year.

Analyst Ratings Changes

AFRM has been the subject of a number of recent research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of Affirm in a research note on Friday, March 27th. Truist Financial upped their target price on shares of Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. Needham & Company LLC upped their target price on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. BMO Capital Markets began coverage on shares of Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price for the company. Finally, Citigroup reiterated a “buy” rating on shares of Affirm in a research report on Wednesday, April 15th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

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.