Moran Wealth Management LLC Buys New Position in Affirm Holdings, Inc. $AFRM

Moran Wealth Management LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, Holdings Channel reports. The firm acquired 35,948 shares of the company’s stock, valued at approximately $1,647,000.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in Affirm during the fourth quarter worth $281,961,000. Invesco Ltd. boosted its stake in shares of Affirm by 294.2% in the 3rd 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Affirm by 11,042.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares during the last quarter. Atreides Management LP grew its holdings in shares of Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of 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 Price Performance

AFRM stock opened at $84.58 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The stock has a market capitalization of $28.33 billion, a P/E ratio of 76.89, a P/E/G ratio of 3.48 and a beta of 3.67. 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 50-day moving average of $69.68 and a 200-day moving average of $63.27.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.Affirm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 EPS. On average, sell-side analysts anticipate that Affirm Holdings, Inc. will post 1.24 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Truist Financial raised their target price on Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft boosted their price objective on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Mizuho upped their target price on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Royal Bank Of Canada raised their target price on shares of Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.20.

Insider Activity at Affirm

In other news, COO Michael Linford sold 100,000 shares of Affirm 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 sale, the chief operating officer directly owned 117,984 shares in the company, valued at $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction that occurred on Wednesday, May 13th. The shares were 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. This trade represents a 5.25% 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. Insiders have sold a total of 104,000 shares of company stock valued at $8,244,000 over the last ninety days. Company insiders own 11.01% of the company’s stock.

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.