Royal Bank of Canada Increases Stock Position in Affirm Holdings, Inc. $AFRM

Royal Bank of Canada raised its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 318,783 shares of the company’s stock after acquiring an additional 24,583 shares during the period. Royal Bank of Canada owned approximately 0.10% of Affirm worth $14,607,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new stake in Affirm in the 4th quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in Affirm during the third quarter worth $31,000. Strive Financial Group LLC purchased a new position in shares of Affirm during the fourth quarter worth $33,000. Larson Financial Group LLC grew its stake in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after buying an additional 213 shares in the last quarter. Finally, Bogart Wealth LLC grew its stake in shares of Affirm by 2,381.0% in the fourth quarter. Bogart Wealth LLC now owns 521 shares of the company’s stock valued at $39,000 after buying an additional 500 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 sale, the director owned 36,076 shares in the company, valued at $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the company’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 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 ownership of the stock. 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. Corporate insiders own 11.01% of the company’s stock.

Affirm Trading Down 1.7%

Shares of NASDAQ:AFRM opened at $75.25 on Friday. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The company’s 50 day moving average is $75.19 and its two-hundred day moving average is $63.50. The company has a market cap of $25.20 billion, a PE ratio of 68.41, a P/E/G ratio of 3.12 and a beta of 3.71. 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 issued its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. The company’s revenue was up 32.7% compared to the same quarter last year. Equities analysts predict that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AFRM. JPMorgan Chase & Co. increased their target price on Affirm from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Piper Sandler assumed coverage on Affirm in a research report on Monday, June 29th. They issued an “overweight” rating and a $103.00 target price for the company. Morgan Stanley set a $79.00 price target on shares of Affirm and gave the stock an “overweight” rating in a research note on Sunday, May 10th. Oppenheimer reissued an “outperform” rating and set a $87.00 price target on shares of Affirm in a research report on Friday, May 8th. Finally, Citizens Jmp lowered their price objective on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $92.74.

Affirm Company 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.