Bank of Nova Scotia Sells 11,022 Shares of Affirm Holdings, Inc. $AFRM

Bank of Nova Scotia lowered its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 71.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,421 shares of the company’s stock after selling 11,022 shares during the quarter. Bank of Nova Scotia’s holdings in Affirm were worth $203,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Greenline Wealth Management LLC bought a new position in Affirm during the fourth quarter worth about $26,000. Triumph Capital Management acquired a new position in Affirm during the third quarter worth approximately $31,000. CoreCap Advisors LLC raised its stake in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares during the period. Strive Financial Group LLC bought a new stake in Affirm in the fourth quarter valued at approximately $33,000. Finally, Larson Financial Group LLC lifted its position in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. This trade represents a 45.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on 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 transaction, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. This represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $71.51 on Friday. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $100.00. The company’s 50 day moving average price is $74.54 and its two-hundred day moving average price is $63.42. The firm has a market cap of $23.95 billion, a PE ratio of 65.01, a PEG ratio of 2.98 and a beta of 3.67. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to the consensus estimate 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 business earned $0.01 earnings per share. Equities research analysts predict that Affirm Holdings, Inc. will post 1.23 earnings per share for the current year.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent analyst reports. Stephens boosted their target price on Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Morgan Stanley set a $79.00 price objective on shares of Affirm and gave the stock an “overweight” rating in a research report on Sunday, May 10th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a report on Wednesday, June 24th. Finally, Robert W. Baird increased their price objective on shares of Affirm from $70.00 to $82.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. Three analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $92.74.

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.