State Board of Administration of Florida Retirement System Sells 7,069 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Posted by Defense World Staff on Sep 20th, 2023

State Board of Administration of Florida Retirement System decreased its position in Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) by 4.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 156,200 shares of the company’s stock after selling 7,069 shares during the quarter. State Board of Administration of Florida Retirement System owned approximately 0.05% of Affirm worth $1,760,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James & Associates increased its position in Affirm by 8.8% in the first quarter. Raymond James & Associates now owns 49,667 shares of the company’s stock worth $2,299,000 after buying an additional 4,005 shares in the last quarter. Bank of New York Mellon Corp increased its position in Affirm by 2.4% in the first quarter. Bank of New York Mellon Corp now owns 633,650 shares of the company’s stock worth $29,324,000 after buying an additional 14,841 shares in the last quarter. HighTower Advisors LLC increased its position in Affirm by 21.5% in the first quarter. HighTower Advisors LLC now owns 35,644 shares of the company’s stock worth $1,650,000 after buying an additional 6,304 shares in the last quarter. Cetera Advisor Networks LLC increased its position in Affirm by 159.6% in the first quarter. Cetera Advisor Networks LLC now owns 9,354 shares of the company’s stock worth $433,000 after buying an additional 5,751 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in Affirm by 48.3% in the first quarter. PNC Financial Services Group Inc. now owns 9,533 shares of the company’s stock worth $441,000 after buying an additional 3,103 shares in the last quarter. Institutional investors own 59.69% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on AFRM. Truist Financial upped their price target on Affirm from $17.00 to $24.00 in a research report on Friday, June 23rd. Mizuho increased their target price on Affirm from $20.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, September 5th. Piper Sandler cut Affirm from a “neutral” rating to an “underweight” rating and set a $11.00 target price for the company. in a research report on Thursday, July 6th. Wedbush increased their target price on Affirm from $9.00 to $10.00 and gave the stock an “underperform” rating in a research report on Friday, August 25th. Finally, Morgan Stanley increased their price target on Affirm from $14.00 to $15.00 and gave the company an “equal weight” rating in a research note on Friday, August 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.22.

View Our Latest Report on AFRM

Insider Buying and Selling

In related news, major shareholder Private Ltd Gic sold 203,905 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The stock was 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 of the company’s stock, valued at approximately $183,309,058.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 12.11% of the stock is owned by corporate insiders.

Affirm Price Performance

Shares of AFRM stock opened at $23.75 on Wednesday. Affirm Holdings, Inc. has a 52-week low of $8.62 and a 52-week high of $25.63. The company has a debt-to-equity ratio of 2.13, a quick ratio of 11.81 and a current ratio of 11.81. The firm has a market capitalization of $7.11 billion, a P/E ratio of -7.11 and a beta of 3.06. The stock has a 50 day moving average price of $18.33 and a 200 day moving average price of $14.76.

Affirm (NASDAQ:AFRM – Get Free Report) last issued its quarterly earnings results on Thursday, August 24th. The company reported ($0.69) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.87) by $0.18. Affirm had a negative return on equity of 38.95% and a negative net margin of 62.05%. The firm had revenue of $445.83 million during the quarter, compared to analyst estimates of $406.18 million. During the same period last year, the company earned ($0.65) EPS. Affirm’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -2.81 earnings per share for the current year.

Affirm Profile

(Free Report)

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.