Hsbc Holdings PLC Has $7.50 Million Stock Position in Affirm Holdings, Inc. $AFRM

Hsbc Holdings PLC boosted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 130.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,780 shares of the company’s stock after purchasing an additional 93,239 shares during the quarter. Hsbc Holdings PLC’s holdings in Affirm were worth $7,503,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. SBI Securities Co. Ltd. increased its stake in shares of Affirm by 83.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock worth $3,610,000 after acquiring an additional 22,054 shares during the period. Capelight Capital Asset Management LP acquired a new position in Affirm during the 4th quarter worth approximately $4,912,000. Geode Capital Management LLC increased its position in Affirm by 6.4% during the 4th quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock worth $408,433,000 after purchasing an additional 329,312 shares during the period. Vanguard Group Inc. raised its position in Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after acquiring an additional 428,138 shares in the last quarter. Finally, J. Safra Sarasin Holding AG purchased a new stake in shares of Affirm during the 4th quarter worth $2,861,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Performance

NASDAQ AFRM opened at $71.21 on Friday. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The business has a fifty day moving average of $73.83 and a 200-day moving average of $63.72. The stock has a market cap of $23.85 billion, a price-to-earnings ratio of 64.74, a price-to-earnings-growth ratio of 3.01 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million during 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 firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. As a group, analysts predict that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

AFRM has been the topic of several recent analyst reports. Robert W. Baird upped their target price on shares of Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. UBS Group lifted their price objective on Affirm from $78.00 to $82.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Morgan Stanley set a $79.00 target price on Affirm and gave the stock an “overweight” rating in a research report on Sunday, May 10th. Sanford C. Bernstein assumed coverage on Affirm in a report on Tuesday. They issued an “outperform” rating and a $100.00 target price on the stock. Finally, Citizens Jmp cut their price target on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $92.63.

Insider Buying and Selling at Affirm

In related news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

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.