KLP Kapitalforvaltning AS Has $7.21 Million Holdings in Affirm Holdings, Inc. $AFRM

KLP Kapitalforvaltning AS boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 91.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,700 shares of the company’s stock after purchasing an additional 47,100 shares during the period. KLP Kapitalforvaltning AS’s holdings in Affirm were worth $7,213,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Affirm by 4.0% during the second quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock worth $1,672,898,000 after buying an additional 922,813 shares during the period. Durable Capital Partners LP lifted its stake in Affirm by 12.3% in the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after acquiring an additional 808,455 shares in the last quarter. Geode Capital Management LLC boosted its position in Affirm by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after acquiring an additional 254,359 shares during the last quarter. State Street Corp boosted its position in Affirm by 3.8% during the 2nd quarter. State Street Corp now owns 4,454,300 shares of the company’s stock worth $307,970,000 after acquiring an additional 161,522 shares during the last quarter. Finally, Foxhaven Asset Management LP grew its stake in shares of Affirm by 39.1% during the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company’s stock worth $200,292,000 after acquiring an additional 814,951 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

Shares of AFRM stock opened at $81.80 on Friday. The company has a fifty day moving average price of $72.28 and a two-hundred day moving average price of $74.11. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The stock has a market cap of $27.00 billion, a P/E ratio of 122.09, a P/E/G ratio of 3.70 and a beta of 3.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80.

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

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Citigroup raised shares of Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Redburn Partners set a $101.00 price target on shares of Affirm in a research note on Monday, October 6th. TD Cowen cut their price target on shares of Affirm from $115.00 to $110.00 and set a “buy” rating on the stock in a research report on Thursday. Morgan Stanley decreased their price objective on Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Finally, Cowen reaffirmed a “buy” rating on shares of Affirm in a research report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eleven have issued a Hold rating to the company’s stock. According to MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $89.17.

Insider Buying and Selling

In related news, CEO Max R. Levchin sold 666,666 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction 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 sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. This represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 711,256 shares of company stock valued at $57,231,923. Insiders own 11.01% of the company’s stock.

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.