Swedbank AB Grows Position in Affirm Holdings, Inc. $AFRM

Swedbank AB grew its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 98.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,772 shares of the company’s stock after purchasing an additional 6,844 shares during the period. Swedbank AB’s holdings in Affirm were worth $631,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Greenline Wealth Management LLC purchased a new position in Affirm in the fourth quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC acquired a new stake in shares of Affirm in the first quarter worth $28,000. Triumph Capital Management acquired a new stake in shares of Affirm in the third quarter worth $31,000. CoreCap Advisors LLC raised its stake in shares of Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after acquiring an additional 358 shares during the period. Finally, Strive Financial Group LLC purchased a new position in shares of Affirm in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the company’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 transaction, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This trade represents a 45.87% 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. Insiders sold 104,000 shares of company stock valued at $8,244,000 in the last three months. 11.01% of the stock is currently owned by company insiders.

Affirm Stock Down 0.4%

AFRM stock traded down $0.36 during trading on Friday, reaching $83.42. The stock had a trading volume of 3,468,851 shares, 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. The firm has a fifty day moving average price of $71.67 and a 200 day moving average price of $63.66. The company has a market capitalization of $27.94 billion, a P/E ratio of 75.84, a PEG ratio of 3.43 and a beta of 3.67. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating 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 company had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same period last year, the firm earned $0.01 earnings per share. The company’s revenue was up 32.7% on a year-over-year basis. On average, equities analysts anticipate that Affirm Holdings, Inc. will post 1.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on AFRM shares. Royal Bank Of Canada upped their price target on shares of Affirm from $77.00 to $80.00 and gave the stock a “sector perform” rating in a research report on Friday, May 8th. Barclays initiated coverage on Affirm in a research note on Wednesday. They set an “overweight” rating and a $97.00 price objective on the stock. The Goldman Sachs Group upped their target price on Affirm from $90.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday. Stephens raised their target price on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Finally, Wells Fargo & Company boosted their price target on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday. 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 stock. Based on data from MarketBeat, Affirm presently has an average rating of “Moderate Buy” and an average price target of $90.35.

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.