Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 11.1% in the third quarter, HoldingsChannel reports. The fund owned 15,059 shares of the company’s stock after selling 1,888 shares during the period. Principal Financial Group Inc.’s holdings in Affirm were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of Montreal Can lifted its stake in shares of Affirm by 2,305.3% in the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after purchasing an additional 187,790 shares during the period. Oppenheimer & Co. Inc. acquired a new position in shares of Affirm in the third quarter worth about $1,419,000. Quest Partners LLC acquired a new position in shares of Affirm in the third quarter worth about $391,000. International Assets Investment Management LLC purchased a new stake in shares of Affirm during the 3rd quarter worth about $731,000. Finally, Entropy Technologies LP acquired a new stake in shares of Affirm during the 3rd quarter valued at about $464,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 6,629 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the transaction, the president now directly owns 160,601 shares in the company, valued at approximately $11,576,120.08. This represents a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of the stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders have sold 1,323,478 shares of company stock worth $86,285,371 in the last ninety days. 12.41% of the stock is owned by insiders.

Affirm Stock Performance

Shares of Affirm stock opened at $66.50 on Monday. The business’s 50 day moving average price is $61.37 and its 200 day moving average price is $44.34. The company has a market cap of $20.88 billion, a price-to-earnings ratio of -46.83 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $73.34.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the previous year, the firm earned ($0.57) EPS. On average, research analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

AFRM has been the subject of a number of analyst reports. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and upped their price target for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. The Goldman Sachs Group increased their target price on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. JMP Securities raised shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Friday, December 20th. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and increased their price objective for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $45.00 to $75.00 and gave the stock a “hold” rating in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.94.

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.