Affirm Holdings, Inc. $AFRM Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC reduced its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 50.7% during the 1st quarter, HoldingsChannel.com reports. The fund owned 6,091 shares of the company’s stock after selling 6,276 shares during the quarter. HB Wealth Management LLC’s holdings in Affirm were worth $279,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Greenline Wealth Management LLC acquired a new position in Affirm during the fourth quarter worth $26,000. Triumph Capital Management acquired a new stake in shares of Affirm in the third quarter valued at $31,000. CoreCap Advisors LLC grew its stake in shares of Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares in the last quarter. Strive Financial Group LLC acquired a new position in Affirm during the 4th quarter worth about $33,000. Finally, Larson Financial Group LLC boosted its holdings in Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity

In other Affirm news, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction 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 transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

AFRM has been the subject of several recent research reports. Barclays initiated coverage on shares of Affirm in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $97.00 price objective for the company. Wells Fargo & Company increased their target price on shares of Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Stephens increased their target price on shares of Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Royal Bank Of Canada boosted their price target on shares of Affirm from $77.00 to $80.00 and gave the stock a “sector perform” rating in a research note on Friday, May 8th. Finally, 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 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.35.

Affirm Price Performance

AFRM stock opened at $81.93 on Tuesday. The business has a 50 day moving average price of $72.02 and a 200 day moving average price of $63.60. The stock has a market cap of $27.44 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 3.37 and a beta of 3.67. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $100.00. 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 data 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 company had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. Affirm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Equities research analysts anticipate 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.