BI Asset Management Fondsmaeglerselskab A S Purchases New Stake in Affirm Holdings, Inc. $AFRM

BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 74,614 shares of the company’s stock, valued at approximately $5,554,000.

Several other large investors have also recently bought and sold shares of AFRM. Vanguard Group Inc. grew its stake in shares of Affirm by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after purchasing an additional 428,138 shares during the period. Durable Capital Partners LP boosted its holdings in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after buying an additional 808,455 shares in the last quarter. State Street Corp grew its position in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares during the period. Geode Capital Management LLC grew its position in Affirm by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock worth $408,433,000 after buying an additional 329,312 shares during the period. Finally, Invesco Ltd. increased its holdings in Affirm by 294.2% in the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after buying an additional 3,234,260 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on AFRM shares. Needham & Company LLC lifted their price target on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Stephens raised their price objective on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on Affirm from $79.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, May 8th. Morgan Stanley set a $79.00 target price on Affirm and gave the stock an “overweight” rating in a research report on Sunday, May 10th. Finally, BMO Capital Markets started coverage on Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $86.20.

Affirm Stock Performance

Shares of AFRM opened at $63.61 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The firm has a 50 day simple moving average of $60.91 and a 200-day simple moving average of $62.34. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00. The stock has a market cap of $21.30 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 3.66 and a beta of 3.70.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.Affirm’s revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. Equities analysts forecast that Affirm Holdings, Inc. will post 1.25 EPS for the current fiscal year.

Insider Activity

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

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.