Diversify Wealth Management LLC Invests $14.80 Million in Affirm Holdings, Inc. $AFRM

Diversify Wealth Management LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 322,961 shares of the company’s stock, valued at approximately $14,798,000.

Several other institutional investors have also added to or reduced their stakes in AFRM. Greenline Wealth Management LLC purchased a new position in Affirm during the 4th quarter valued at about $26,000. Syntegra Private Wealth Group LLC purchased a new stake in Affirm in the first quarter worth about $28,000. Triumph Capital Management bought a new position in shares of Affirm in the 3rd quarter worth approximately $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 valued at $33,000 after purchasing an additional 358 shares in the last quarter. Finally, Strive Financial Group LLC purchased a new position in Affirm during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Performance

NASDAQ AFRM traded down $0.36 on Friday, reaching $83.42. 3,468,851 shares of the stock were exchanged, compared to its average volume of 4,079,038. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The firm has a market capitalization of $27.94 billion, a PE ratio of 75.84, a PEG ratio of 3.43 and a beta of 3.67. The company’s 50-day simple moving average is $71.67 and its two-hundred day simple moving average is $63.66.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $943.95 million during 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 company’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. Analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of the stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents 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 firm’s stock in a transaction dated Wednesday, May 13th. The shares were 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 in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 104,000 shares of company stock worth $8,244,000. 11.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AFRM shares. Barclays initiated coverage on shares of Affirm in a report on Wednesday. They set an “overweight” rating and a $97.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their price target on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Needham & Company LLC increased their price objective on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Robert W. Baird set a $70.00 target price on Affirm in a research report on Friday, May 8th. Finally, Truist Financial boosted their price objective on shares of Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $90.35.

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.