Federated Hermes Inc. Makes New $19.08 Million Investment in Affirm Holdings, Inc. $AFRM

Federated Hermes Inc. purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, Holdings Channel reports. The firm purchased 261,042 shares of the company’s stock, valued at approximately $19,077,000.

Other hedge funds also recently made changes to their positions in the company. Huntington National Bank boosted its position in shares of Affirm by 634.0% in the 2nd quarter. Huntington National Bank now owns 389 shares of the company’s stock worth $27,000 after purchasing an additional 336 shares in the last quarter. Mather Group LLC. purchased a new position in Affirm in the third quarter worth about $29,000. SouthState Corp grew its position in shares of Affirm by 190.5% during the 2nd quarter. SouthState Corp now owns 427 shares of the company’s stock valued at $30,000 after acquiring an additional 280 shares during the period. Blume Capital Management Inc. increased its holdings in Affirm by 468.8% in the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company’s stock worth $31,000 after acquiring an additional 375 shares in the last quarter. Finally, Quent Capital LLC bought a new stake in Affirm during the third quarter valued at about $43,000. 69.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $2,912,080.00. Following the completion of the sale, 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. Insiders have sold a total of 711,256 shares of company stock valued at $57,231,923 over the last three months. 11.01% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on AFRM. Rothschild Redb raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. Wolfe Research started coverage on Affirm in a research note on Tuesday, December 9th. They set a “peer perform” rating for the company. Morgan Stanley reduced their price target on Affirm from $90.00 to $83.00 and set an “equal weight” rating on the stock in a research report on Friday, November 7th. Royal Bank Of Canada dropped their target price on shares of Affirm from $97.00 to $87.00 and set a “sector perform” rating on the stock in a research report on Friday, November 7th. Finally, The Goldman Sachs Group reduced their price objective on Affirm from $105.00 to $94.00 and set a “buy” rating for the company in a research note on Monday, October 13th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.44.

Affirm Stock Performance

NASDAQ AFRM opened at $60.30 on Friday. The stock’s fifty day moving average is $72.37 and its two-hundred day moving average is $74.42. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The firm has a market capitalization of $19.90 billion, a P/E ratio of 90.00, a price-to-earnings-growth ratio of 2.85 and a beta of 3.57. Affirm Holdings, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. The company had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. Affirm had a net margin of 6.74% and a return on equity of 7.75%. Affirm’s revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the business posted ($0.31) EPS. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

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.