HB Wealth Management LLC Cuts Stock Position in Affirm Holdings, Inc. $AFRM

HB Wealth Management LLC lowered its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 50.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,091 shares of the company’s stock after selling 6,276 shares during the quarter. HB Wealth Management LLC’s holdings in Affirm were worth $279,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in AFRM. Greenline Wealth Management LLC bought a new position in Affirm during the 4th quarter valued at about $26,000. Triumph Capital Management purchased a new stake in shares of Affirm in the third quarter worth approximately $31,000. CoreCap Advisors LLC lifted 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 purchasing an additional 358 shares during the last quarter. Strive Financial Group LLC purchased a new stake in shares of Affirm during the fourth quarter valued at $33,000. Finally, Larson Financial Group LLC boosted its stake in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after purchasing an additional 213 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

AFRM has been the subject of several research reports. Citigroup boosted their price objective on shares of Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, July 1st. Deutsche Bank Aktiengesellschaft raised their target price on shares of Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Needham & Company LLC increased their price objective on Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Friday, May 8th. Finally, Royal Bank Of Canada increased their price objective on Affirm from $77.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.35.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $81.93 on Tuesday. The company has a market cap of $27.44 billion, a PE ratio of 74.48, a P/E/G ratio of 3.37 and a beta of 3.67. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The business has a 50-day simple moving average of $72.02 and a two-hundred day simple moving average of $63.60. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share 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 net margin of 9.63% and a return on equity of 11.17%. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. As a group, equities analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

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.