California State Teachers Retirement System Acquires 29,549,277 Shares of Affirm Holdings, Inc. $AFRM

California State Teachers Retirement System raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 7,715.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,932,275 shares of the company’s stock after buying an additional 29,549,277 shares during the period. California State Teachers Retirement System owned about 0.09% of Affirm worth $2,440,977,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Affirm during the 4th quarter worth $281,961,000. Invesco Ltd. increased its stake in shares of Affirm by 294.2% in the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of Affirm by 11,042.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares in the last quarter. Atreides Management LP raised its holdings in Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. Finally, State Street Corp raised its holdings in Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Down 0.2%

AFRM opened at $67.99 on Friday. The stock has a market cap of $22.94 billion, a price-to-earnings ratio of 12.32, a price-to-earnings-growth ratio of 2.79 and a beta of 3.61. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The firm’s fifty day moving average is $76.17 and its 200 day moving average is $65.87. Affirm Holdings, Inc. has a fifty-two week low of $42.10 and a fifty-two week high of $92.56.

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

Insider Transactions at Affirm

In other news, insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction dated Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares of the company’s stock, valued at $11,513,717.67. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Siphelele Jiyane sold 25,000 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $72.41, for a total value of $1,810,250.00. Following the sale, the chief accounting officer owned 215,691 shares of the company’s stock, valued at $15,618,185.31. This represents a 10.39% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 287,547 shares of company stock valued at $23,031,029 over the last 90 days. Company insiders own 11.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AFRM. Mizuho boosted their price target on Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Zacks Research cut Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Morgan Stanley lifted their price objective on Affirm from $80.00 to $82.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Finally, TD Cowen boosted their price objective on Affirm from $117.00 to $124.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Twenty-four research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $99.33.

Affirm Profile

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm’s products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.