BIT Capital GmbH Lowers Position in Affirm Holdings, Inc. $AFRM

BIT Capital GmbH lessened its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 44.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,335 shares of the company’s stock after selling 189,006 shares during the period. BIT Capital GmbH owned about 0.07% of Affirm worth $17,344,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Assetmark Inc. boosted its stake in shares of Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the last quarter. Huntington National Bank lifted its position in Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after buying an additional 336 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Affirm during the 3rd quarter worth $29,000. SouthState Corp raised its stake in Affirm by 190.5% during the second quarter. SouthState Corp now owns 427 shares of the company’s stock worth $30,000 after purchasing an additional 280 shares during the period. Finally, Quent Capital LLC acquired a new stake in Affirm during the third quarter worth $43,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AFRM has been the topic of a number of research reports. Compass Point restated a “buy” rating and set a $68.00 price target on shares of Affirm in a research note on Wednesday. TD Cowen reiterated a “buy” rating on shares of Affirm in a report on Friday, February 6th. Oppenheimer dropped their price target on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating on the stock in a research note on Friday, February 6th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $85.00 price target on shares of Affirm in a research report on Monday, February 9th. Finally, Truist Financial decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and an average target price of $85.56.

Affirm Stock Up 0.2%

AFRM stock opened at $51.82 on Friday. The company has a market capitalization of $17.26 billion, a P/E ratio of 63.98, a PEG ratio of 1.93 and a beta of 3.56. The firm has a 50 day simple moving average of $68.73 and a 200-day simple moving average of $73.31. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, equities research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, 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 disclosure for this sale is available in the SEC filing. Insiders have sold 711,256 shares of company stock worth $57,231,923 over the last ninety days. 11.01% of the stock is owned by insiders.

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.