KLP Kapitalforvaltning AS Takes $2.98 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

KLP Kapitalforvaltning AS bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 48,900 shares of the company’s stock, valued at approximately $2,978,000.

Other large investors also recently bought and sold shares of the company. Spyglass Capital Management LLC raised its holdings in shares of Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after buying an additional 200,449 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Affirm by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock worth $138,368,000 after acquiring an additional 68,848 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock worth $53,902,000 after acquiring an additional 5,169 shares during the period. Artemis Investment Management LLP grew its stake in Affirm by 2.1% during the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after purchasing an additional 15,517 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after purchasing an additional 528,400 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AFRM. Compass Point raised Affirm from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Affirm in a report on Thursday, March 20th. The Goldman Sachs Group reduced their target price on shares of Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday, December 16th. Finally, JPMorgan Chase & Co. lifted their price objective on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Eight research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.76.

Affirm Trading Down 5.1 %

Shares of NASDAQ:AFRM opened at $48.32 on Thursday. The business’s 50 day moving average price is $60.35 and its 200-day moving average price is $56.27. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The firm has a market capitalization of $15.37 billion, a price-to-earnings ratio of -74.34 and a beta of 3.63. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This represents a 3.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,086 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $62.32, for a total value of $1,002,479.52. Following the completion of the transaction, the director now owns 93,694 shares in the company, valued at $5,839,010.08. The trade was a 14.65 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 62,301 shares of company stock valued at $3,920,543. 12.41% of the stock is owned by corporate insiders.

Affirm Profile

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.