Pictet Asset Management Holding SA Trims Holdings in Affirm Holdings, Inc. $AFRM

Pictet Asset Management Holding SA reduced its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 10.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 95,258 shares of the company’s stock after selling 11,535 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Affirm were worth $4,365,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Greenline Wealth Management LLC purchased a new stake in Affirm in the fourth quarter valued at approximately $26,000. Triumph Capital Management purchased a new position in shares of Affirm during the third quarter worth $31,000. CoreCap Advisors LLC boosted its position in shares of Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after buying an additional 358 shares during the period. Strive Financial Group LLC acquired a new stake in shares of Affirm in the fourth quarter valued at $33,000. Finally, Larson Financial Group LLC grew its stake in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Oppenheimer reissued an “outperform” rating and set a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. Stephens lifted their target price on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Needham & Company LLC boosted their price target on shares of Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Bank of America increased their price target on shares of Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Finally, BMO Capital Markets started coverage on shares of Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $88.20.

Insider Transactions at Affirm

In related news, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a filing 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, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 104,000 shares of company stock valued at $8,244,000. Corporate insiders own 11.01% of the company’s stock.

Affirm Stock Performance

NASDAQ:AFRM opened at $84.58 on Friday. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $100.00. The firm has a market cap of $28.33 billion, a PE ratio of 76.89, a price-to-earnings-growth ratio of 3.48 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The stock has a fifty day moving average price of $69.68 and a 200 day moving average price of $63.29.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to the consensus estimate 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 business earned $0.01 EPS. Sell-side analysts anticipate that Affirm Holdings, Inc. will post 1.24 earnings per share for the current fiscal year.

Affirm Company 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.