Abdiel Capital Advisors LP lowered its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) by 85.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 144,046 shares of the company’s stock after selling 815,536 shares during the period. Affirm accounts for approximately 15.1% of Abdiel Capital Advisors LP’s holdings, making the stock its 3rd biggest position. Abdiel Capital Advisors LP’s holdings in Affirm were worth $10,721,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock valued at $1,849,378,000 after acquiring an additional 428,138 shares during the period. Capital Research Global Investors increased its stake in Affirm by 0.5% in the fourth quarter. Capital Research Global Investors now owns 23,145,942 shares of the company’s stock valued at $1,722,797,000 after acquiring an additional 104,239 shares during the period. Capital World Investors increased its stake in Affirm by 2.4% in the fourth quarter. Capital World Investors now owns 21,710,914 shares of the company’s stock valued at $1,615,953,000 after acquiring an additional 507,224 shares during the period. Durable Capital Partners LP increased its stake in Affirm by 12.3% in the second 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 during the period. Finally, State Street Corp increased its stake in Affirm by 26.7% in the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after acquiring an additional 1,187,665 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.
Insider Activity at Affirm
In other news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by company insiders.
Affirm Price Performance
Affirm (NASDAQ:AFRM – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. During the same period in the prior year, the firm earned $0.01 earnings per share. Affirm’s revenue was up 32.7% compared to the same quarter last year. On average, equities analysts predict that Affirm Holdings, Inc. will post 1.25 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
AFRM has been the topic of a number of analyst reports. Bank of America upped their target price on shares of Affirm from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Oppenheimer reissued an “outperform” rating and issued a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. Robert W. Baird set a $70.00 target price on shares of Affirm in a research note on Friday, May 8th. Weiss Ratings reissued a “hold (c-)” rating on shares of Affirm in a research note on Friday, March 27th. Finally, BMO Capital Markets initiated coverage on shares of Affirm in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $86.20.
Read Our Latest Analysis on Affirm
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.
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