SEB Asset Management AB Buys Shares of 53,469 Affirm Holdings, Inc. $AFRM

SEB Asset Management AB acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 53,469 shares of the company’s stock, valued at approximately $2,450,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Mount Vernon Associates Inc. MD lifted its holdings in Affirm by 0.5% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock valued at $3,195,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Affirm by 63.6% in the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after purchasing an additional 203 shares in the last quarter. Rakuten Securities Inc. lifted its stake in shares of Affirm by 1.3% during the 4th quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock valued at $1,237,000 after buying an additional 206 shares in the last quarter. UMB Bank n.a. lifted its stake in shares of Affirm by 36.6% during the 4th quarter. UMB Bank n.a. now owns 783 shares of the company’s stock valued at $58,000 after buying an additional 210 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after buying an additional 213 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Insider Activity at Affirm

In other Affirm news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the business’s 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 transaction, 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. 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. 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 recent research reports. Morgan Stanley set a $79.00 price objective on shares of Affirm and gave the company an “overweight” rating in a research note on Sunday, May 10th. Citigroup raised their price target on Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. TD Cowen lifted their price target on Affirm from $90.00 to $117.00 and gave the company a “buy” rating in a research report on Tuesday, July 7th. Barclays started coverage on Affirm in a research note on Wednesday, July 8th. They set an “overweight” rating and a $97.00 price objective on the stock. Finally, UBS Group raised their target price on Affirm from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.63.

Affirm Trading Down 3.7%

Affirm stock opened at $71.21 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The stock has a market cap of $23.85 billion, a P/E ratio of 64.74, a PEG ratio of 3.01 and a beta of 3.67. The firm’s fifty day moving average price is $73.83 and its 200-day moving average price is $63.72.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $995.27 million. During the same period in the previous year, the business earned $0.01 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. Equities research analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

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.