Bank of New York Mellon Corp Has $46.90 Million Stock Holdings in Affirm Holdings, Inc. $AFRM

Bank of New York Mellon Corp reduced its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 17.9% during the first quarter, HoldingsChannel reports. The firm owned 1,023,643 shares of the company’s stock after selling 223,489 shares during the period. Bank of New York Mellon Corp’s holdings in Affirm were worth $46,903,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of AFRM. Mount Vernon Associates Inc. MD lifted its stake in shares of Affirm by 0.5% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock valued at $3,195,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp increased its stake in shares of Affirm by 63.6% during the 4th quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after purchasing an additional 203 shares during the last quarter. Rakuten Securities Inc. raised its holdings in shares of Affirm by 1.3% in the 4th quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock worth $1,237,000 after purchasing an additional 206 shares during the period. UMB Bank n.a. raised its holdings in shares of Affirm by 36.6% in the 4th quarter. UMB Bank n.a. now owns 783 shares of the company’s stock worth $58,000 after purchasing an additional 210 shares during the period. Finally, Larson Financial Group LLC increased its holdings in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction 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 owned 117,984 shares in the company, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their position. The sale was disclosed in a filing with the SEC, 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 company’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the sale, the director 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. 11.01% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

AFRM has been the subject of a number of analyst reports. Mizuho raised their price target on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Thursday, May 14th. Needham & Company LLC raised their price target on Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Barclays started coverage on Affirm in a report on Wednesday, July 8th. They issued an “overweight” rating and a $97.00 price objective for the company. BTIG Research reiterated a “neutral” rating on shares of Affirm in a research report on Tuesday, May 26th. Finally, Bank of America boosted their price objective on shares of Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $92.74.

Affirm Stock Performance

Affirm stock opened at $70.23 on Friday. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. The stock’s 50 day simple moving average is $73.92 and its two-hundred day simple moving average is $63.76. 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 stock has a market cap of $23.52 billion, a price-to-earnings ratio of 63.85, a PEG ratio of 2.90 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million during 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%.The business’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. As a group, analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share 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.