Allspring Global Investments Holdings LLC Grows Stock Holdings in Affirm Holdings, Inc. $AFRM

Allspring Global Investments Holdings LLC lifted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 23.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,577,264 shares of the company’s stock after acquiring an additional 303,037 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.47% of Affirm worth $71,829,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Royal Bank of Canada raised its holdings 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 buying an additional 3,892 shares during the period. Empowered Funds LLC raised its stake in shares of Affirm by 90.7% during 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 during the period. Focus Partners Wealth purchased a new stake in shares of Affirm during the first quarter valued at approximately $243,000. EverSource Wealth Advisors LLC lifted its position in shares of Affirm by 18.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after purchasing an additional 427 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of Affirm by 44.8% during the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock worth $13,242,000 after purchasing an additional 59,297 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 4.7%

Shares of AFRM opened at $76.07 on Friday. The company has a 50-day simple moving average of $73.19 and a 200-day simple moving average of $63.82. The firm has a market capitalization of $25.48 billion, a P/E ratio of 69.15, a P/E/G ratio of 3.23 and a beta of 3.67. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business earned $0.01 earnings per share. On average, equities research analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share for the current year.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director directly 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 sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley set a $79.00 price objective on Affirm and gave the company an “overweight” rating in a research note on Sunday, May 10th. Wells Fargo & Company increased their target price on Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Citigroup lifted their price target on shares of Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research note on Wednesday, June 24th. Finally, Citizens Jmp reduced their price objective on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $92.04.

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.