Saudi Central Bank Acquires 9,298 Shares of Affirm Holdings, Inc. $AFRM

Saudi Central Bank lifted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 91.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,445 shares of the company’s stock after purchasing an additional 9,298 shares during the quarter. Saudi Central Bank’s holdings in Affirm were worth $1,586,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of AFRM. Greenline Wealth Management LLC bought a new stake in Affirm during the 4th quarter worth approximately $26,000. Triumph Capital Management bought a new stake in shares of Affirm during the third quarter worth $31,000. Strive Financial Group LLC acquired a new stake in shares of Affirm during the fourth quarter worth $33,000. Larson Financial Group LLC boosted its stake in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares during the period. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its holdings in shares of Affirm by 200.0% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 600 shares of the company’s stock valued at $45,000 after purchasing an additional 400 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Stock Performance

Shares of AFRM opened at $72.08 on Wednesday. The stock has a market capitalization of $24.32 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 2.96 and a beta of 3.61. The firm’s fifty day simple moving average is $76.81 and its two-hundred day simple moving average is $65.63. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $92.56.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.20 EPS. As a group, analysts predict that Affirm Holdings, Inc. will post 1.87 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on AFRM. Royal Bank Of Canada increased their price objective on shares of Affirm from $80.00 to $96.00 and gave the stock a “sector perform” rating in a research note on Friday, August 28th. Piper Sandler increased their price objective on shares of Affirm from $103.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Barclays lifted their price target on Affirm from $97.00 to $105.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Truist Financial boosted their price objective on shares of Affirm from $83.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, September 3rd. Finally, Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 25th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, Affirm has a consensus rating of “Moderate Buy” and an average target price of $99.33.

Insider Transactions at Affirm

In other 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 value 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 $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. 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, insider Katherine Adkins sold 41,664 shares of the firm’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total transaction of $3,146,881.92. Following the completion of the transaction, the insider directly owned 152,439 shares of the company’s stock, valued at approximately $11,513,717.67. The trade was a 21.46% 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. Insiders sold a total of 262,547 shares of company stock worth $21,220,779 over the last three months. 11.01% of the stock is owned by insiders.

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.