The Manufacturers Life Insurance Company Grows Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

The Manufacturers Life Insurance Company increased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 6.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 51,588 shares of the company’s stock after acquiring an additional 3,105 shares during the period. The Manufacturers Life Insurance Company’s holdings in Affirm were worth $1,558,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of AFRM. Vanguard Group Inc. increased its position in shares of Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. Capital World Investors increased its holdings in Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after buying an additional 77,050 shares during the last quarter. Baillie Gifford & Co. raised its position in Affirm by 4.2% in the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after acquiring an additional 749,368 shares during the period. Dragoneer Investment Group LLC purchased a new position in shares of Affirm during the 2nd quarter worth $45,219,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Affirm by 25.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the sale, the director now directly owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now owns 91,499 shares in the company, valued at approximately $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now owns 64,348 shares in the company, valued at $1,730,961.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 112,075 shares of company stock valued at $4,803,786. Insiders own 13.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on AFRM. JMP Securities assumed coverage on Affirm in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $37.00 in a research report on Wednesday. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 target price on shares of Affirm in a report on Monday, June 24th. Wedbush lifted their price target on shares of Affirm from $20.00 to $25.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Finally, Susquehanna began coverage on shares of Affirm in a research note on Friday, September 20th. They issued a “positive” rating and a $52.00 price objective for the company. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.13.

Affirm Stock Performance

NASDAQ:AFRM opened at $42.01 on Friday. The company has a market cap of $12.99 billion, a price-to-earnings ratio of -18.84 and a beta of 3.50. Affirm Holdings, Inc. has a 1 year low of $15.97 and a 1 year high of $52.48. The stock’s 50 day simple moving average is $36.41 and its two-hundred day simple moving average is $33.22. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The firm had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. As a group, equities analysts anticipate that Affirm Holdings, Inc. will post -0.82 earnings per share for the current fiscal 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.