Royal Fund Management 13F: Adds $5.2M to Affirm (AFRM) Stake

Royal Fund Management significantly increased its investment in Affirm Holdings, Inc. NASDAQGS:AFRM, lifting its stake by 74,400 shares during the third quarter. According to a Form 13F filed with the Securities and Exchange Commission on October 22, 2026, the fund's total position grew by 1,935.4% to 78,244 shares. The value of the holding reached approximately $5.4 million at the close of the period. Affirm closed at $72.40 on the filing date.

AFRM Affirm Holdings, Inc.

$72.40 ▼ -2.20% year to date

1M 3M YTD

Daily close · Oct 22, 2026

What Changed in Royal Fund Management's Affirm Holdings Position

Royal Fund Management held just 3,844 shares of the credit services company prior to the filing. By adding 74,400 shares during the quarter, the firm expanded its position sharply. The new total of 78,244 shares places the value at $5,416,832.

Other Institutional Activity in Affirm Holdings

Other large funds also adjusted their positions in Affirm around recent reporting periods. Baillie Gifford & Co grew its holdings by 554,107 shares, ending with 5,856,569 shares worth about $424.0 million following a 10.4% increase.

Affirm Holdings, Inc. Stock Down 2.0%

Affirm shares recently traded around $72.40, a level matching the close on the October 22 filing date. The stock trades about 1.6% below its 50-day moving average of $73.57 and roughly 8.4% above its 200-day moving average of $66.76. The company has a market capitalization of roughly $24.8 billion and a price-to-earnings ratio of 13.3.

Recent Earnings

Affirm reported trailing-twelve-month revenue of $4.26 billion and earnings of $5.53 per share. The company posted a net profit margin of 45.3% and a return on equity of 45.1%. The next earnings release is scheduled for November 5, 2026.

Insider Buying and Selling at Affirm Holdings, Inc.

Company insiders completed several stock transactions ahead of the filing. Officer Katherine Elizabeth Adkins disposed of 83,328 shares on September 3, 2026, for a total value of $6,086,351. Officer Siphelele N Jiyane sold 25,000 shares on September 4, 2026, at an average price of $72.41 for $1,810,250, and later sold 26,980 shares on September 14, 2026, at an average price of $72.19 for $1,947,686. Chief Financial Officer Robert Warren O'Hare disposed of 65,591 shares on October 9, 2026, at an average price of $80.02 for a total value of $5,248,592.

Analysts Set New Price Targets

Wall Street firms updated their views on Affirm ahead of the filing. On September 14, 2026, Wolfe Research upgraded the stock to an Outperform rating with a $90.00 price target. Citizens reiterated a Market Outperform rating with an $85.00 target on September 16, 2026. Freedom Capital Markets maintained a Buy rating and a $105.00 target on October 1, 2026. TD Cowen maintained a Buy rating while lowering its target from $124.00 to $110.00 on October 6, 2026. Goldman Sachs maintained a Buy rating while moving its target from $115.00 to $103.00 on October 13, 2026. Wall Street analysts currently maintain a consensus Buy rating on the stock with a mean price target of $98.59 across 32 opinions.

About Affirm Holdings

Affirm Holdings, Inc. operates a payment network allowing consumers to use pay-over-time solutions at checkout across the United States, Canada, and international markets. The platform partners with banks and merchants to provide installment financing options for retail purchases.

Bottom Line

Royal Fund Management holds a sizable stake in Affirm following its Q3 additions. Investors will watch for the company's next earnings report on November 5, 2026, to gauge ongoing revenue growth and platform adoption.