Affirm Holdings, Inc. $AFRM Stock Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.6% in the third quarter, Holdings Channel reports. The firm owned 528,628 shares of the company’s stock after purchasing an additional 13,330 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Affirm were worth $36,597,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. TD Waterhouse Canada Inc. raised its stake in Affirm by 386.5% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 51,844 shares of the company’s stock valued at $4,228,000 after acquiring an additional 41,187 shares during the period. SteelPeak Wealth LLC bought a new position in Affirm during the first quarter worth about $935,000. Dimensional Fund Advisors LP boosted its position in Affirm by 11.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock worth $72,100,000 after purchasing an additional 166,252 shares during the period. Nykredit A S purchased a new position in shares of Affirm in the second quarter worth about $7,170,000. Finally, Royal Bank of Canada increased its stake in shares of Affirm by 8.4% in the first quarter. Royal Bank of Canada now owns 318,783 shares of the company’s stock worth $14,607,000 after purchasing an additional 24,583 shares in the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AFRM has been the topic of a number of recent research reports. Weiss Ratings upgraded shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 28th. Susquehanna lifted their price objective on shares of Affirm from $105.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, August 28th. Citizens Jmp reissued a “market outperform” rating and set a $85.00 target price on shares of Affirm in a report on Wednesday, September 16th. Compass Point set a $100.00 target price on shares of Affirm in a report on Friday, July 17th. Finally, Needham & Company LLC set a $85.00 target price on Affirm in a research report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.41.

Insiders Place Their Bets

In related news, COO Michael Linford sold 79,219 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Robert O’Hare sold 65,591 shares of the firm’s stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $80.02, for a total transaction of $5,248,591.82. Following the completion of the sale, the chief financial officer directly owned 2,734 shares in the company, valued at $218,774.68. This represents 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. Company insiders own 11.01% of the company’s stock.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $75.59 on Thursday. The company has a 50 day moving average of $72.87 and a 200 day moving average of $66.60. The stock has a market cap of $25.51 billion, a P/E ratio of 13.69, a P/E/G ratio of 2.92 and a beta of 3.74. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $90.44. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) 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 business had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.20 EPS. The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Affirm Holdings, Inc. will post 1.89 EPS for the current fiscal year.

Affirm 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.