Affirm Holdings, Inc. $AFRM Stock Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lowered its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 60.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 375,534 shares of the company’s stock after selling 585,468 shares during the period. Artemis Investment Management LLP owned approximately 0.11% of Affirm worth $25,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in AFRM. Rhodes Investment Advisors Inc. ADV grew its position in Affirm by 1.3% in the third quarter. Rhodes Investment Advisors Inc. ADV now owns 11,378 shares of the company’s stock worth $788,000 after acquiring an additional 149 shares during the period. Congress Asset Management Co. grew its holdings in shares of Affirm by 3.0% during the 3rd quarter. Congress Asset Management Co. now owns 439,115 shares of the company’s stock worth $30,400,000 after purchasing an additional 12,645 shares during the period. QRG Capital Management Inc. increased its position in shares of Affirm by 11.8% during the 2nd quarter. QRG Capital Management Inc. now owns 10,829 shares of the company’s stock worth $883,000 after purchasing an additional 1,145 shares during the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Affirm during the 2nd quarter worth about $307,000. Finally, Tidal Investments LLC purchased a new stake in Affirm in the 2nd quarter valued at about $1,097,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on AFRM shares. Sanford C. Bernstein increased their target price on shares of Affirm from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday, August 31st. Weiss Ratings raised shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday, August 28th. Piper Sandler boosted their target price on Affirm from $103.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Cantor Fitzgerald upped their price target on Affirm from $88.00 to $97.00 and gave the stock an “overweight” rating in a research note on Monday, August 31st. Finally, UBS Group raised their price target on Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and an average target price of $98.15.

Affirm Stock Up 0.4%

NASDAQ AFRM traded up $0.28 during trading hours on Thursday, hitting $75.59. 999,301 shares of the company were exchanged, compared to its average volume of 5,197,080. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 3.06 and a beta of 3.82. The company has a 50 day moving average of $73.53 and a two-hundred day moving average of $68.95. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $90.44.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter last year, the business posted $0.20 EPS. The business’s quarterly revenue was up 33.1% compared to the same quarter last year. Equities research analysts anticipate that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction that occurred 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 owned 152,439 shares in the company, valued at $11,513,717.67. The trade was a 21.46% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 79,219 shares of the firm’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the completion of the sale, the chief operating officer owned 120,713 shares in the company, valued at $10,865,377.13. The trade was a 39.62% 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 214,527 shares of company stock worth $16,974,716 in the last 90 days. Corporate insiders own 11.01% of the company’s stock.

Affirm Company Profile

Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm’s services are offered through its merchant partners’ online and in-store checkout experiences, as well as through the Affirm app and website.