Richelieu Gestion SA Cuts Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Richelieu Gestion SA lessened its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 12.8% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,382 shares of the company’s stock after selling 2,557 shares during the period. Richelieu Gestion SA’s holdings in Affirm were worth $266,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in AFRM. Norges Bank bought a new position in shares of Affirm in the 4th quarter valued at about $20,544,000. Vanguard Group Inc. lifted its holdings in shares of Affirm by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 16,498,384 shares of the company’s stock valued at $763,545,000 after acquiring an additional 1,883,050 shares during the last quarter. State Street Corp lifted its holdings in shares of Affirm by 96.6% in the 2nd quarter. State Street Corp now owns 3,571,814 shares of the company’s stock valued at $64,507,000 after acquiring an additional 1,755,252 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Affirm by 38.2% in the 1st quarter. BlackRock Inc. now owns 5,180,921 shares of the company’s stock valued at $239,773,000 after acquiring an additional 1,432,202 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Affirm by 14.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 11,350,295 shares of the company’s stock valued at $204,987,000 after acquiring an additional 1,404,278 shares during the last quarter. Institutional investors own 59.69% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. BTIG Research assumed coverage on shares of Affirm in a research note on Tuesday, June 13th. They issued a “sell” rating and a $10.00 price objective for the company. Mizuho raised their price objective on shares of Affirm from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Truist Financial raised their price objective on shares of Affirm from $17.00 to $24.00 in a research note on Friday, June 23rd. Bank of America raised their price objective on shares of Affirm from $13.00 to $20.00 in a research note on Monday, June 12th. Finally, Compass Point started coverage on shares of Affirm in a research report on Thursday, June 22nd. They set a “neutral” rating and a $14.50 target price on the stock. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Affirm presently has an average rating of “Hold” and an average target price of $16.22.

Insider Transactions at Affirm

In other news, major shareholder Private Ltd Gic sold 203,905 shares of Affirm stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $15.42, for a total transaction of $3,144,215.10. Following the completion of the sale, the insider now directly owns 11,887,747 shares in the company, valued at $183,309,058.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 12.11% of the company’s stock.

Affirm Price Performance

AFRM traded up $1.15 during trading on Monday, hitting $25.52. The stock had a trading volume of 9,721,919 shares, compared to its average volume of 16,712,523. Affirm Holdings, Inc. has a twelve month low of $8.62 and a twelve month high of $25.63. The company has a debt-to-equity ratio of 2.13, a current ratio of 11.81 and a quick ratio of 11.81. The stock has a 50 day simple moving average of $17.97 and a two-hundred day simple moving average of $14.61.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, August 24th. The company reported ($0.69) EPS for the quarter, topping the consensus estimate of ($0.87) by $0.18. Affirm had a negative net margin of 62.05% and a negative return on equity of 38.95%. The business had revenue of $445.83 million during the quarter, compared to the consensus estimate of $406.18 million. During the same period in the previous year, the firm posted ($0.65) earnings per share. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, research analysts forecast that Affirm Holdings, Inc. will post -2.81 EPS for the current fiscal year.

Affirm Company 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.