Catalyst Private Wealth LLC Trims Position in Affirm Holdings, Inc. $AFRM

Catalyst Private Wealth LLC cut its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 128,745 shares of the company’s stock after selling 7,331 shares during the period. Affirm makes up about 4.1% of Catalyst Private Wealth LLC’s portfolio, making the stock its 5th biggest holding. Catalyst Private Wealth LLC’s holdings in Affirm were worth $9,409,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Affirm by 140.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock worth $205,350,000 after acquiring an additional 2,657,074 shares in the last quarter. Norges Bank bought a new stake in Affirm in the second quarter worth $183,475,000. Atreides Management LP raised its stake in Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares in the last quarter. Vanguard Group Inc. lifted its position in Affirm by 4.0% during the second quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock valued at $1,672,898,000 after purchasing an additional 922,813 shares during the last quarter. Finally, Foxhaven Asset Management LP grew its stake in shares of Affirm by 39.1% in the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company’s stock worth $200,292,000 after buying an additional 814,951 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AFRM. Truist Financial decreased their target price on shares of Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Bank of America upped their price objective on Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Jefferies Financial Group raised their price objective on Affirm from $82.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, August 26th. Mizuho boosted their target price on Affirm from $70.00 to $108.00 and gave the company an “outperform” rating in a research report on Tuesday, September 2nd. Finally, Rothschild & Co Redburn upgraded Affirm from a “neutral” rating to a “buy” rating and raised their price target for the stock from $74.00 to $101.00 in a research report on Monday, October 6th. Three research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $86.57.

Insider Transactions at Affirm

In other Affirm news, CEO Max R. Levchin sold 651,713 shares of the company’s stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $89.27, for a total value of $58,178,419.51. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Robert O’hare sold 8,189 shares of Affirm stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total transaction of $573,230.00. Following the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $95,760. This represents a 85.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 11.01% of the company’s stock.

Affirm Trading Up 11.8%

Shares of NASDAQ AFRM opened at $73.39 on Wednesday. Affirm Holdings, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The company has a market cap of $24.22 billion, a price-to-earnings ratio of 109.54, a PEG ratio of 2.96 and a beta of 3.57. The business’s 50 day moving average price is $70.78 and its 200-day moving average price is $72.07.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The company had revenue of $933.34 million during the quarter, compared to analysts’ expectations of $881.83 million. During the same quarter in the previous year, the business earned ($0.31) EPS. Affirm’s revenue was up 33.6% compared to the same quarter last year. On average, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.