Thrivent Financial for Lutherans Takes $3.65 Million Position in Affirm Holdings, Inc. $AFRM

Thrivent Financial for Lutherans purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 52,964 shares of the company’s stock, valued at approximately $3,648,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Affirm by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock worth $1,672,898,000 after purchasing an additional 922,813 shares in the last quarter. Durable Capital Partners LP lifted its position in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after purchasing an additional 808,455 shares during the period. Geode Capital Management LLC grew its stake in Affirm by 5.8% during the second quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after buying an additional 254,359 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Affirm by 140.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock valued at $205,350,000 after buying an additional 2,657,074 shares during the period. Finally, State Street Corp raised its position in shares of Affirm by 3.8% in the 2nd quarter. State Street Corp now owns 4,454,300 shares of the company’s stock valued at $307,970,000 after buying an additional 161,522 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 0.2%

NASDAQ:AFRM opened at $76.22 on Friday. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. The company has a market cap of $25.16 billion, a PE ratio of 113.76, a P/E/G ratio of 3.46 and a beta of 3.57. The firm’s 50 day simple moving average is $70.80 and its 200 day simple moving average is $72.38.

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

Insider Buying and Selling at Affirm

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on AFRM shares. Mizuho raised their target price on Affirm from $70.00 to $108.00 and gave the company an “outperform” rating in a report on Tuesday, September 2nd. Wells Fargo & Company assumed coverage on Affirm in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $89.00 price objective on the stock. Citigroup raised shares of Affirm to a “strong-buy” rating in a report on Thursday, October 23rd. Rothschild Redb raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Monday, October 6th. Finally, Truist Financial lowered their price objective on shares of Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Affirm Company 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.