Thrivent Financial for Lutherans Makes New $3.65 Million Investment in Affirm Holdings, Inc. $AFRM

Thrivent Financial for Lutherans acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 52,964 shares of the company’s stock, valued at approximately $3,648,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Farther Finance Advisors LLC increased its holdings in Affirm by 15.6% in the second quarter. Farther Finance Advisors LLC now owns 1,300 shares of the company’s stock worth $90,000 after purchasing an additional 175 shares in the last quarter. Allworth Financial LP grew its position in shares of Affirm by 41.9% during the 2nd quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after buying an additional 236 shares during the period. UMB Bank n.a. grew its position in shares of Affirm by 86.6% during the 2nd quarter. UMB Bank n.a. now owns 569 shares of the company’s stock worth $39,000 after buying an additional 264 shares during the period. SouthState Corp increased its stake in shares of Affirm by 190.5% in the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after acquiring an additional 280 shares in the last quarter. Finally, Comerica Bank lifted its position in shares of Affirm by 5.5% during the 1st quarter. Comerica Bank now owns 5,513 shares of the company’s stock valued at $249,000 after acquiring an additional 287 shares during the period. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, CEO Max R. Levchin sold 651,713 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $89.27, for a total value of $58,178,419.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert O’hare sold 8,189 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total transaction of $573,230.00. Following the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at $95,760. The trade was a 85.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 11.01% of the stock is currently owned by company insiders.

Affirm Price Performance

AFRM stock opened at $76.22 on Friday. 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 business has a 50-day simple moving average of $70.80 and a two-hundred day simple moving average of $72.38. The company has a market capitalization of $25.16 billion, a P/E ratio of 113.76, a price-to-earnings-growth ratio of 3.46 and a beta of 3.57. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00.

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

Analyst Ratings Changes

A number of equities research analysts have commented on AFRM shares. Rothschild & Co Redburn upgraded shares of Affirm from a “neutral” rating to a “buy” rating and raised their price target for the stock from $74.00 to $101.00 in a report on Monday, October 6th. Rothschild Redb upgraded Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Morgan Stanley dropped their price target on Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Truist Financial reduced their price objective on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Bank of America boosted 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. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $86.57.

About Affirm

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.