Allstate Corp Acquires 10,268 Shares of Affirm Holdings, Inc. $AFRM

Allstate Corp raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 108.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,740 shares of the company’s stock after purchasing an additional 10,268 shares during the quarter. Allstate Corp’s holdings in Affirm were worth $1,469,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Federated Hermes Inc. acquired a new stake in Affirm during the third quarter worth approximately $19,077,000. Envestnet Asset Management Inc. grew its stake in Affirm by 26.1% during the third quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock worth $17,185,000 after purchasing an additional 48,734 shares during the period. SBI Securities Co. Ltd. grew its stake in Affirm by 83.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock worth $3,610,000 after purchasing an additional 22,054 shares during the period. Public Sector Pension Investment Board acquired a new stake in Affirm during the third quarter worth approximately $7,103,000. Finally, Flagship Harbor Advisors LLC acquired a new stake in Affirm during the third quarter worth approximately $2,408,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AFRM. Bank of America raised their price objective on Affirm from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Robert W. Baird set a $70.00 price target on Affirm in a research report on Friday, May 8th. Oppenheimer restated an “outperform” rating and set a $87.00 target price on shares of Affirm in a research report on Friday, May 8th. Mizuho increased their target price on Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Finally, JPMorgan Chase & Co. upped their price target on Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $86.20.

Affirm Stock Up 0.9%

Affirm stock opened at $73.65 on Friday. The business has a fifty day moving average of $58.55 and a two-hundred day moving average of $62.60. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. The firm has a market cap of $24.67 billion, a P/E ratio of 66.95, a P/E/G ratio of 4.27 and a beta of 3.72. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The business’s quarterly revenue was up 32.7% on a year-over-year basis. On average, analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by insiders.

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.