Alberta Investment Management Corp Makes New Investment in Affirm Holdings, Inc. $AFRM

Alberta Investment Management Corp acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 70,900 shares of the company’s stock, valued at approximately $5,277,000.

A number of other hedge funds have also modified their holdings of AFRM. Assetmark Inc. lifted its position in shares of Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after buying an additional 178 shares during the period. Greenline Wealth Management LLC acquired a new stake in Affirm in the 4th quarter valued at $26,000. Triumph Capital Management bought a new stake in Affirm in the third quarter valued at $31,000. CoreCap Advisors LLC raised its stake in Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after acquiring an additional 358 shares in the last quarter. Finally, Larson Financial Group LLC raised its stake in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on AFRM. Oppenheimer restated an “outperform” rating and issued a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. The Goldman Sachs Group cut shares of Affirm from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a research note on Friday, March 27th. BMO Capital Markets initiated coverage on shares of Affirm in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price for the company. Finally, Bank of America increased their target price on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat, Affirm presently has an average rating of “Moderate Buy” and an average target price of $86.20.

Affirm Trading Up 3.9%

AFRM stock opened at $74.69 on Wednesday. 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 Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00. The company has a market cap of $25.01 billion, a P/E ratio of 67.90, a PEG ratio of 4.14 and a beta of 3.70. The business has a fifty day moving average of $64.10 and a 200-day moving average of $62.41.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 earnings per share. As a group, equities research analysts expect that Affirm Holdings, Inc. will post 1.25 EPS for the current year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,000 shares of Affirm 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 owned 36,076 shares in the company, valued at $2,344,940. The trade was a 5.25% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

Affirm 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.