TD Waterhouse Canada Inc. lifted its stake in Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) by 386.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,844 shares of the company’s stock after buying an additional 41,187 shares during the period. TD Waterhouse Canada Inc.’s holdings in Affirm were worth $4,228,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Greenline Wealth Management LLC bought a new position in shares of Affirm in the fourth quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm during the first quarter worth $28,000. Triumph Capital Management acquired a new position in Affirm during the 3rd quarter valued at about $31,000. Strive Financial Group LLC acquired a new position in Affirm in the fourth quarter valued at approximately $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in shares of Affirm in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 69.29% of the company’s stock.
Affirm Stock Performance
NASDAQ:AFRM opened at $72.35 on Monday. The stock has a market capitalization of $24.41 billion, a price-to-earnings ratio of 13.11, a PEG ratio of 2.96 and a beta of 3.61. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $93.20. The firm has a fifty day simple moving average of $77.19 and a two-hundred day simple moving average of $65.34. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82.
Key Affirm News
Here are the key news stories impacting Affirm this week:
- Positive Sentiment: Analyst support remains strong: Mizuho Securities initiated or reiterated a Buy rating for Affirm, while Truist raised its price target from $83 to $85 and maintained a Buy rating. Scotiabank also began coverage with a Sector Outperform recommendation. These actions reinforce the bullish view that Affirm can continue expanding its payments and lending business. Affirm Receives a Buy from Mizuho Securities Scotiabank Initiates Coverage of Affirm
- Positive Sentiment: Demand may be benefiting from consumer pressure: Inflation and elevated gas costs are encouraging consumers to use installment-payment products, potentially supporting transaction volume and revenue growth. Affirm’s disciplined underwriting is viewed as a way to limit rising credit risk. Consumer Pressure Rises, but Demand for Affirm’s Services Also Rises
- Neutral Sentiment: Recent fundamentals provide support: Affirm’s latest quarterly revenue increased 33.1% year over year, and reported EPS substantially exceeded consensus estimates, although revenue was below expectations. Analysts overall maintain a Moderate Buy consensus, with an average price target of $99.12.
- Negative Sentiment: Insider selling is a near-term overhang: COO and director-level insider sales totaling roughly $10 million were reported, including Katherine Adkins’ sale of 41,664 shares. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their value as a signal of current management sentiment but may still pressure the stock.
Insiders Place Their Bets
In other news, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction on Thursday, September 3rd. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the sale, the insider owned 152,439 shares in the company, valued at $11,513,717.67. This represents a 21.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% 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 have sold a total of 262,547 shares of company stock worth $21,220,779 over the last ninety days. Insiders own 11.01% of the company’s stock.
Analyst Ratings Changes
A number of equities analysts have recently weighed in on AFRM shares. Oppenheimer lifted their price target on shares of Affirm from $100.00 to $104.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a report on Tuesday, May 26th. Scotiabank started coverage on shares of Affirm in a research report on Wednesday. They issued a “sector outperform” rating and a $95.00 price target for the company. BMO Capital Markets upped their target price on Affirm from $86.00 to $101.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, The Goldman Sachs Group raised their price objective on Affirm from $106.00 to $115.00 and gave the company a “buy” rating in a report on Monday, August 31st. Twenty-three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and an average target price of $99.12.
View Our Latest Analysis on Affirm
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.
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