Truist Financial Corp Takes $212,000 Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Truist Financial Corp purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 3,484 shares of the company’s stock, valued at approximately $212,000.

A number of other institutional investors have also modified their holdings of the company. Spyglass Capital Management LLC boosted its holdings in shares of Affirm by 9.3% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after buying an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after buying an additional 672,883 shares in the last quarter. Artemis Investment Management LLP boosted its holdings in shares of Affirm by 2.1% in the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock valued at $46,908,000 after buying an additional 15,517 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares in the last quarter. Finally, Holocene Advisors LP bought a new stake in shares of Affirm in the 3rd quarter valued at about $27,872,000. 69.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. This trade represents a 3.51 % 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 Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction on Monday, December 16th. The shares were sold at an average price of $72.05, for a total transaction of $180,125.00. Following the completion of the sale, the director now directly owns 41,497 shares in the company, valued at $2,989,858.85. This represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 478,387 shares of company stock valued at $32,691,830 in the last three months. 12.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages recently commented on AFRM. UBS Group increased their price objective on shares of Affirm from $46.00 to $62.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Susquehanna lowered shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research report on Tuesday, January 21st. JMP Securities increased their price objective on shares of Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their price objective on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Affirm from $78.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Nine investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.24.

Affirm Price Performance

NASDAQ:AFRM opened at $52.64 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The firm has a market cap of $16.74 billion, a price-to-earnings ratio of -80.98 and a beta of 3.63. The company has a 50 day moving average price of $63.66 and a 200-day moving average price of $54.88. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share 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%. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

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.