11,062 Shares in Affirm Holdings, Inc. $AFRM Purchased by Independent Financial Group LLC

Independent Financial Group LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 11,062 shares of the company’s stock, valued at approximately $507,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Affirm in the 4th quarter worth approximately $281,961,000. Invesco Ltd. lifted its stake in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after purchasing an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in Affirm by 11,042.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock valued at $157,004,000 after purchasing an additional 2,141,881 shares during the last quarter. Atreides Management LP lifted its stake in Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Finally, State Street Corp boosted its holdings in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Stock Down 3.7%

Shares of Affirm stock opened at $71.21 on Friday. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The company has a market cap of $23.85 billion, a P/E ratio of 64.74, a P/E/G ratio of 3.01 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average price of $73.83 and a 200 day moving average price of $63.72.

Affirm (NASDAQ:AFRM) last released its earnings results 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. The company had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.01 EPS. As a group, analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director owned 36,076 shares in the company, valued at $2,344,940. This represents a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This trade represents a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Analysts Set New Price Targets

AFRM has been the topic of several research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a report on Wednesday, June 24th. Barclays began coverage on Affirm in a research note on Wednesday, July 8th. They set an “overweight” rating and a $97.00 price objective for the company. Sanford C. Bernstein began coverage on Affirm in a report on Tuesday. They issued an “outperform” rating and a $100.00 target price on the stock. Susquehanna boosted their target price on Affirm from $100.00 to $105.00 and gave the stock a “positive” rating in a research report on Thursday, June 25th. Finally, JPMorgan Chase & Co. upped their target price on Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $92.63.

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.