First Trust Advisors LP Grows Holdings in Affirm Holdings, Inc. $AFRM

First Trust Advisors LP boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 201.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 578,181 shares of the company’s stock after buying an additional 386,656 shares during the quarter. First Trust Advisors LP owned 0.18% of Affirm worth $42,253,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Assetmark Inc. lifted 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 in the last quarter. Mather Group LLC. acquired a new stake in Affirm during the 3rd quarter valued at approximately $29,000. Quent Capital LLC acquired a new stake in Affirm during the 3rd quarter valued at approximately $43,000. Allworth Financial LP increased its holdings in Affirm by 41.9% during the 2nd quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after purchasing an additional 236 shares during the last quarter. Finally, CI Investments Inc. increased its holdings in Affirm by 131.1% during the 3rd quarter. CI Investments Inc. now owns 929 shares of the company’s stock worth $68,000 after purchasing an additional 527 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AFRM has been the subject of several research analyst reports. Royal Bank Of Canada reduced their target price on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. TD Cowen restated a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price target on shares of Affirm in a report on Friday, February 6th. Mizuho reduced their price objective on shares of Affirm from $114.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, February 9th. Finally, Oppenheimer decreased their price objective on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $84.36.

Affirm Trading Down 8.7%

Shares of NASDAQ AFRM opened at $46.38 on Friday. Affirm Holdings, Inc. has a 12-month low of $30.90 and a 12-month high of $100.00. The company has a market cap of $15.45 billion, a price-to-earnings ratio of 57.26, a price-to-earnings-growth ratio of 1.86 and a beta of 3.61. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The stock’s 50 day simple moving average is $61.25 and its 200 day simple moving average is $70.52.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.06 billion. During the same period in the prior year, the business earned $0.23 EPS. The firm’s revenue was up 29.6% on a year-over-year basis. Equities research analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Activity

In related news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, 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. 11.01% of the stock is currently owned by corporate 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.