Legal & General Group Plc Raises Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Legal & General Group Plc boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 26.1% in the 4th quarter, HoldingsChannel reports. The fund owned 345,230 shares of the company’s stock after acquiring an additional 71,387 shares during the period. Legal & General Group Plc’s holdings in Affirm were worth $21,025,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in Affirm in the fourth quarter valued at $139,949,000. Vanguard Group Inc. boosted its position in shares of Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after acquiring an additional 716,574 shares in the last quarter. Groupama Asset Managment purchased a new position in shares of Affirm in the 4th quarter valued at about $30,450,000. Amundi raised its position in shares of Affirm by 107.5% during the 4th quarter. Amundi now owns 603,437 shares of the company’s stock worth $35,404,000 after acquiring an additional 312,620 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Affirm during the fourth quarter worth approximately $14,591,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

AFRM has been the topic of several recent analyst reports. Susquehanna lowered shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. JMP Securities increased their target price on shares of Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Evercore ISI initiated coverage on shares of Affirm in a research report on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price target for the company. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a report on Friday, December 20th. Finally, TD Cowen initiated coverage on Affirm in a report on Tuesday, April 8th. They issued a “buy” rating and a $50.00 target price for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Affirm has a consensus rating of “Moderate Buy” and an average target price of $66.74.

Insider Buying and Selling at Affirm

In other news, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now directly owns 137,325 shares in the company, valued at approximately $10,986,000. This trade represents a 3.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the sale, the director now directly owns 45,432 shares in the company, valued at $2,063,067.12. This trade represents a 26.15 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,762 shares of company stock valued at $3,241,246. 12.41% of the stock is owned by company insiders.

Affirm Trading Down 0.6 %

Shares of Affirm stock opened at $40.49 on Monday. The firm has a market cap of $12.88 billion, a price-to-earnings ratio of -62.29 and a beta of 3.68. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The company’s 50-day simple moving average is $55.81 and its 200-day simple moving average is $56.19. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. As a group, equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.