Allstate Corp Buys Shares of 9,472 Affirm Holdings, Inc. $AFRM

Allstate Corp bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 9,472 shares of the company’s stock, valued at approximately $692,000.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after acquiring an additional 3,892 shares during the period. Empowered Funds LLC increased its stake in Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after purchasing an additional 8,014 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Affirm during the first quarter valued at about $243,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Affirm during the second quarter valued at about $441,000. Finally, UMB Bank n.a. boosted its position in shares of Affirm by 86.6% during the 2nd quarter. UMB Bank n.a. now owns 569 shares of the company’s stock worth $39,000 after purchasing an additional 264 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AFRM. Morgan Stanley dropped their price target on Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research note on Friday, November 7th. Wall Street Zen lowered Affirm from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Redburn Partners set a $101.00 price target on shares of Affirm in a research report on Monday, October 6th. Truist Financial decreased their price target on shares of Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Finally, Wells Fargo & Company assumed coverage on shares of Affirm in a research note on Tuesday, October 21st. They issued an “overweight” rating and a $89.00 price objective on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and ten have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $89.17.

Affirm Stock Performance

NASDAQ:AFRM opened at $72.83 on Friday. The business’s 50-day moving average price is $72.36 and its two-hundred day moving average price is $74.47. The stock has a market cap of $24.04 billion, a P/E ratio of 108.70, a PEG ratio of 3.25 and a beta of 3.57. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 2.40.

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

Insider Transactions at Affirm

In related news, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the sale, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The SEC filing for this sale provides additional information. Insiders have sold a total of 711,256 shares of company stock worth $57,231,923 in the last ninety days. Insiders own 11.01% of the company’s stock.

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.