ABN Amro Investment Solutions Purchases New Stake in Affirm Holdings, Inc. $AFRM

ABN Amro Investment Solutions purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,553 shares of the company’s stock, valued at approximately $785,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in shares of Affirm by 27.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 10,186 shares of the company’s stock valued at $758,000 after purchasing an additional 2,219 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in shares of Affirm by 7.4% in the fourth quarter. Handelsbanken Fonder AB now owns 72,200 shares of the company’s stock valued at $5,374,000 after purchasing an additional 5,000 shares during the last quarter. Capstone Capital Management Ltd acquired a new stake in Affirm during the fourth quarter worth $986,000. Envestnet Portfolio Solutions Inc. acquired a new stake in Affirm during the fourth quarter worth $215,000. Finally, Pacific Heights Asset Management LLC increased its stake in Affirm by 19.3% during the fourth quarter. Pacific Heights Asset Management LLC now owns 525,000 shares of the company’s stock worth $39,076,000 after acquiring an additional 85,000 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on 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 transaction, the director directly owned 36,076 shares in the company, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 several recent analyst reports. Zacks Research cut Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 29th. Compass Point reissued a “buy” rating and set a $68.00 target price on shares of Affirm in a research note on Wednesday, February 18th. Citizens Jmp cut their target price on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. BMO Capital Markets initiated coverage on Affirm in a research note on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price for the company. Finally, Citigroup reissued a “buy” rating on shares of Affirm in a research note on Wednesday, April 15th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Affirm Stock Performance

AFRM opened at $65.22 on Monday. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The business has a fifty day simple moving average of $56.18 and a 200-day simple moving average of $62.56. The firm has a market cap of $21.84 billion, a P/E ratio of 59.29, a P/E/G ratio of 3.88 and a beta of 3.72. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $995.27 million. During the same period last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 32.7% on a year-over-year basis. On average, equities analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share for the current 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.