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 12.67 million Affirm Holdings Inc (AFRM) shares trading Friday and a closing price of $43.01 on the day, the dollar volume was approximately $544.87 million. The shares have shown a positive half year performance of 215.09% and its price on 01/05/24 gained nearly 1.20%. Currently, there are 237.23M common shares owned by the public and among those 224.83M shares have been available to trade.
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Insiders at the company have transacted a total of 89 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 43 of these insider trades were purchases, accounting for 271,101 shares. Insider sales of the common stock occurred on 46 occasions, with total insider shares sold totaling 317,574 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 $41.58, down -$0.92 from a prior closing price of $42.50. However, the script later moved the day high at 43.91, up 1.20%. The company’s stock has a 5-day price change of -16.31% and 145.63% over the past three months. AFRM shares are trading -12.47% year to date (YTD), with the 12-month market performance up to 334.88% higher. It has a 12-month low price of $8.80 and touched a high of $52.48 over the same period. AFRM has an average intraday trading volume of 19.97 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 -4.80%, 30.03%, and 113.98% respectively.
Institutional ownership of Affirm Holdings Inc (NASDAQ: AFRM) shares accounts for 68.50% of the company’s 237.23M shares outstanding. Mutual fund holders own 35.27%, while other institutional holders and individual stakeholders account for 50.25% and 12.07% respectively.
It has a market capitalization of $12.98B and a beta (3y monthly) value of 3.75. 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 5.67% over the week and 7.64% over the month.
Analysts forecast that Affirm Holdings Inc (AFRM) will achieve an EPS of -$0.73 for the current quarter, -$0.68 for the next quarter and -$2.11 for 2025. The lowest estimate earnings-per-share for the quarter is -$0.86 while analysts give the company a high EPS estimate of -$0.63. Comparatively, EPS for the current quarter was -$1.1 a year ago. Earnings per share for the fiscal year are expected to increase by 22.02%, and 22.17% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 19 brokerage firm advisors rate Affirm Holdings Inc (AFRM) as a “Hold” at a consensus score of 3.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 8 of the 19 advise that investors “hold,” and 5 rated it as a “Sell.”
Looking at the support for the AFRM, a number of firms have released research notes about the stock. Morgan Stanley stated their Underweight rating for the stock in a research note on December 18, 2023, with the firm’s price target at $15-$20.
