Capelight Capital Asset Management LP Sells 16,000 Shares of Affirm Holdings, Inc. $AFRM

Capelight Capital Asset Management LP reduced its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 24.2% during the first quarter, HoldingsChannel reports. The firm owned 50,000 shares of the company’s stock after selling 16,000 shares during the quarter. Affirm accounts for about 1.6% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 21st largest holding. Capelight Capital Asset Management LP’s holdings in Affirm were worth $2,291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Norges Bank bought a new position in Affirm in the 4th quarter valued at approximately $281,961,000. Invesco Ltd. grew its stake in shares of Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after buying an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Affirm by 11,042.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after buying an additional 2,141,881 shares in the last quarter. Atreides Management LP increased its holdings in shares of Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after buying an additional 1,670,429 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after acquiring an additional 1,187,665 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the transaction, the director directly owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 104,000 shares of company stock worth $8,244,000. Insiders own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada raised their price objective on Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their price target on Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Citigroup raised their price objective on shares of Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday. Finally, BMO Capital Markets assumed coverage on shares of Affirm in a report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $88.20.

Affirm Price Performance

Shares of AFRM opened at $84.58 on Friday. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The company has a market capitalization of $28.33 billion, a price-to-earnings ratio of 76.89, a price-to-earnings-growth ratio of 3.45 and a beta of 3.67. The business has a 50-day moving average of $69.32 and a 200-day moving average of $63.14.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.01 earnings per share. As a group, equities research analysts anticipate that Affirm Holdings, Inc. will post 1.24 earnings per share for the current year.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.