VIRGINIA RETIREMENT SYSTEMS ET Al Takes $6.16 Million Position in Affirm Holdings, Inc. $AFRM

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 75,511 shares of the company’s stock, valued at approximately $6,158,000.

Other hedge funds have also made changes to their positions in the company. UMB Bank n.a. boosted its position in Affirm by 36.6% in the fourth 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. Larson Financial Group LLC increased its holdings in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. Swiss Life Asset Management Ltd increased its holdings in shares of Affirm by 1.1% during the fourth quarter. Swiss Life Asset Management Ltd now owns 22,296 shares of the company’s stock worth $1,659,000 after buying an additional 247 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of Affirm by 3.6% in the first quarter. QRG Capital Management Inc. now owns 9,684 shares of the company’s stock valued at $444,000 after acquiring an additional 340 shares during the last quarter. Finally, Greenline Wealth Management LLC bought a new position in shares of Affirm in the fourth quarter valued at approximately $26,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Price Performance

AFRM opened at $72.08 on Wednesday. The company has a fifty day moving average price of $76.81 and a two-hundred day moving average price of $65.63. The firm has a market capitalization of $24.32 billion, a PE ratio of 13.06, a P/E/G ratio of 2.96 and a beta of 3.61. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $92.56. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm earned $0.20 earnings per share. The firm’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, analysts anticipate that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

AFRM has been the topic of several recent analyst reports. Weiss Ratings raised Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 28th. Mizuho lifted their price objective on Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. BMO Capital Markets increased their target price on Affirm from $86.00 to $101.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Finally, Wells Fargo & Company lifted their price target on Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Twenty-four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $99.33.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the sale, the insider directly owned 152,439 shares in the company, valued at approximately $11,513,717.67. This trade represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 79,219 shares of Affirm stock in a transaction on 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 transaction, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. This represents a 39.62% 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 262,547 shares of company stock worth $21,220,779 over the last quarter. 11.01% of the stock is currently owned by corporate insiders.

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.