California Public Employees Retirement System Purchases 34,139 Shares of Affirm Holdings, Inc. $AFRM

California Public Employees Retirement System increased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 433,625 shares of the company’s stock after purchasing an additional 34,139 shares during the quarter. California Public Employees Retirement System owned approximately 0.13% of Affirm worth $29,981,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Affirm by 4.0% in the 2nd quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock valued at $1,672,898,000 after buying an additional 922,813 shares in the last quarter. Durable Capital Partners LP boosted its position in shares of Affirm by 12.3% during the 1st quarter. Durable Capital Partners LP now owns 6,580,882 shares of the company’s stock valued at $297,390,000 after acquiring an additional 722,599 shares in the last quarter. Geode Capital Management LLC increased its stake in Affirm by 5.8% in the second quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock valued at $322,195,000 after acquiring an additional 254,359 shares during the period. Price T Rowe Associates Inc. MD increased its stake in Affirm by 140.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock valued at $205,350,000 after acquiring an additional 2,657,074 shares during the period. Finally, Norges Bank acquired a new position in Affirm in the second quarter worth about $183,475,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, CFO Robert O’hare sold 8,189 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total transaction of $573,230.00. Following the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $95,760. This represents a 85.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Max R. Levchin sold 651,713 shares of the firm’s stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $89.27, for a total transaction of $58,178,419.51. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 672,402 shares of company stock worth $59,819,400. 11.01% of the stock is currently owned by corporate insiders.

Affirm Trading Up 3.6%

Shares of AFRM opened at $70.86 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The company has a market cap of $23.39 billion, a price-to-earnings ratio of 105.76, a PEG ratio of 3.09 and a beta of 3.57. The stock has a fifty day moving average price of $71.37 and a two-hundred day moving average price of $71.42. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The company had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The business’s revenue for the quarter was up 33.6% on a year-over-year basis. Analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on AFRM shares. Bank of America lifted their price objective on Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a report on Friday, November 7th. Wolfe Research initiated coverage on Affirm in a research note on Tuesday. They issued a “peer perform” rating on the stock. Rothschild & Co Redburn upgraded Affirm from a “neutral” rating to a “buy” rating and upped their price target for the company from $74.00 to $101.00 in a research report on Monday, October 6th. Truist Financial cut their price objective on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Morgan Stanley reduced their target price on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $86.57.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.