Morgan Stanley Investment Managem recently announced the acquisition of new stake in Affirm Holdings Inc (NASDAQ:AFRM). The institutional investor has increased its shareholding in the Technology company by 26.00% to 30.45 million shares with purchase of 6.28 million shares. This fresh investment now brings its stake to 12.58% valued currently at $1.05 billion. In addition, Capital Research & Management Co raised its holdings by 2.0 million to 18.78 million shares. And The Vanguard Group, Inc. has lifted its position by 1.14% or 0.21 million shares – to 18.44 million shares.
With over 21.31 million Affirm Holdings Inc (AFRM) shares trading Friday and a closing price of $43.97 on the day, the dollar volume was approximately $936.97 million. The shares have shown a positive half year performance of 163.77% and its price on 12/15/23 lost nearly -1.94%. Currently, there are 237.23M common shares owned by the public and among those 224.85M shares have been available to trade.
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Insiders at the company have transacted a total of 99 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 47 of these insider trades were purchases, accounting for 309,463 shares. Insider sales of the common stock occurred on 52 occasions, with total insider shares sold totaling 348,051 shares.
The top 3 mutual fund holders in Affirm Holdings Inc are American Funds Growth Fund of Ame, American Funds Small Cap World Fu, and American Funds AMCAP Fund. American Funds Growth Fund of Ame owns 21.06 million shares of the company’s stock, all valued at over $724.66 million. The company sold 70557.0 shares recently to bring their total holdings to about 8.70% of the shares outstanding. American Funds AMCAP Fund sold -0.26 million shares to bring its total holdings to over 7.2 million shares at a value of $247.59 million. American Funds AMCAP Fund now owns shares totaling to 2.97% of the shares outstanding.
Shares of Affirm Holdings Inc (NASDAQ: AFRM) opened at $45.24, up $0.4 from a prior closing price of $44.84. However, the script later moved the day high at 45.94, down -1.94%. The company’s stock has a 5-day price change of 4.52% and 75.81% over the past three months. AFRM shares are trading 354.71% year to date (YTD), with the 12-month market performance up to 289.12% higher. It has a 12-month low price of $8.62 and touched a high of $46.96 over the same period. AFRM has an average intraday trading volume of 17.75 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 28.34%, 71.46%, and 147.76% respectively.
Institutional ownership of Affirm Holdings Inc (NASDAQ: AFRM) shares accounts for 69.37% of the company’s 237.23M shares outstanding. Mutual fund holders own 37.10%, while other institutional holders and individual stakeholders account for 49.64% and 13.28% respectively.
It has a market capitalization of $13.27B and a beta (3y monthly) value of 3.68. The earnings-per-share (ttm) stands at -$3.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 9.71% over the week and 8.22% over the month.
Analysts forecast that Affirm Holdings Inc (AFRM) will achieve an EPS of $Affirm Holdings, Inc. for the current quarter, $43.97 for the next quarter and $Stocks for Type. The lowest estimate earnings-per-share for the quarter is $Farmer Brothers Company while analysts give the company a high EPS estimate of $Alarm.com Holdings, Inc. Comparatively, EPS for the current quarter was $Forafric Global PLC a year ago. Earnings per share for the fiscal year are expected to increase by 21.99%, and 21.06% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 18 brokerage firm advisors rate Affirm Holdings Inc (AFRM) as a “Moderate Buy” at a consensus score of 2.89. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 8 of the 18 advise that investors “hold,” and 4 rated it as a “Sell.”
Looking at the support for the AFRM, a number of firms have released research notes about the stock. Jefferies stated their Hold rating for the stock in a research note on November 28, 2023, with the firm’s price target at $9.50-$30.
