Legal & General Group Plc Grows Position in Affirm Holdings, Inc. $AFRM

Legal & General Group Plc increased its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 25.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 605,521 shares of the company’s stock after purchasing an additional 122,584 shares during the quarter. Legal & General Group Plc’s holdings in Affirm were worth $45,069,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in AFRM. Invesco Ltd. boosted its stake in shares of Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares during the period. Atreides Management LP boosted its stake in shares of Affirm by 543.3% during the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. State Street Corp boosted its stake in shares of Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Affirm by 333.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,166,370 shares of the company’s stock worth $85,238,000 after purchasing an additional 897,340 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director owned 36,076 shares in the company, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company insiders.

Affirm Price Performance

Affirm stock opened at $73.65 on Friday. The stock has a market cap of $24.67 billion, a price-to-earnings ratio of 66.95, a price-to-earnings-growth ratio of 4.31 and a beta of 3.72. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The firm has a 50-day moving average of $58.55 and a two-hundred day moving average of $62.60.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.01 EPS. On average, research analysts forecast that Affirm Holdings, Inc. will post 1.25 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on AFRM shares. Cantor Fitzgerald lifted their price target on shares of Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 21st. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a research note on Tuesday. Truist Financial boosted their price objective on shares of Affirm from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday. Mizuho boosted their price objective on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Finally, Stephens boosted their price objective on shares of Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

About Affirm

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.