Affirm Holdings, Inc. $AFRM Stock Sold by TD Waterhouse Canada Inc.

TD Waterhouse Canada Inc. lowered its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 37.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 32,364 shares of the company’s stock after selling 19,480 shares during the period. TD Waterhouse Canada Inc.’s holdings in Affirm were worth $2,280,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp bought a new position in shares of Affirm in the second quarter worth $75,121,000. Ardmore Road Asset Management LP raised its stake in shares of Affirm by 849.6% during the 1st quarter. Ardmore Road Asset Management LP now owns 600,000 shares of the company’s stock valued at $27,492,000 after purchasing an additional 536,814 shares during the period. Diversify Wealth Management LLC bought a new stake in shares of Affirm during the 1st quarter valued at $14,798,000. Allspring Global Investments Holdings LLC raised its stake in shares of Affirm by 23.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,577,264 shares of the company’s stock valued at $71,829,000 after purchasing an additional 303,037 shares during the period. Finally, Spyglass Capital Management LLC lifted its holdings in Affirm by 15.2% during the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company’s stock worth $76,168,000 after purchasing an additional 218,745 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on AFRM shares. UBS Group raised their target price on Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Bank of America lifted their target price on Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a report on Friday, August 28th. Citizens Jmp reiterated a “market outperform” rating and set a $85.00 price target on shares of Affirm in a research report on Wednesday, September 16th. Cantor Fitzgerald upped their price target on Affirm from $88.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, August 31st. Finally, Citigroup reissued a “market outperform” rating on shares of Affirm in a report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $97.69.

Affirm Stock Up 1.4%

AFRM opened at $73.85 on Wednesday. The company has a fifty day moving average price of $73.54 and a 200-day moving average price of $70.93. The firm has a market capitalization of $24.92 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 2.92 and a beta of 3.82. The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $90.44.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping the consensus estimate of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm posted $0.20 earnings per share. The business’s quarterly revenue was up 33.1% on a year-over-year basis. Equities research analysts expect that Affirm Holdings, Inc. will post 1.91 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Michael Linford sold 79,219 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the completion of the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. The trade was a 39.62% decrease in their ownership of the stock. 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, CFO Robert O’Hare sold 65,591 shares of the business’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $80.02, for a total value of $5,248,591.82. Following the transaction, the chief financial officer owned 2,734 shares of the company’s stock, valued at approximately $218,774.68. The trade was a 96.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 280,118 shares of company stock worth $22,223,307 over the last three months. Corporate insiders own 11.01% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc (NASDAQ: AFRM) operates a financial technology platform that provides consumers with flexible payment options at the point of sale. Its services allow shoppers to split eligible purchases into scheduled installments, with terms and costs disclosed before a transaction is completed.

Affirm’s platform is available through online and mobile checkout experiences, as well as through the Affirm app. Its product offerings include buy now, pay later financing, the Affirm Card, and savings products.