SteelPeak Wealth LLC Makes New Investment in Affirm Holdings, Inc. $AFRM

SteelPeak Wealth LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 20,403 shares of the company’s stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in AFRM. Royal Bank of Canada lifted its holdings in Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares during the last quarter. Empowered Funds LLC raised its position in shares of Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after purchasing an additional 8,014 shares during the period. Focus Partners Wealth bought a new stake in shares of Affirm during the 1st quarter worth about $243,000. EverSource Wealth Advisors LLC grew its stake in Affirm by 18.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after buying an additional 427 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Affirm by 44.8% during the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock worth $13,242,000 after acquiring an additional 59,297 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on AFRM shares. Truist Financial lifted their price target on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Oppenheimer reissued an “outperform” rating and set a $87.00 target price on shares of Affirm in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on shares of Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Piper Sandler initiated coverage on shares of Affirm in a report on Monday, June 29th. They set an “overweight” rating and a $103.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.04.

Affirm Stock Performance

Shares of Affirm stock opened at $76.07 on Friday. The company has a 50 day moving average of $73.19 and a 200-day moving average of $63.82. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The company has a market cap of $25.48 billion, a PE ratio of 69.15, a price-to-earnings-growth ratio of 3.07 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.Affirm’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 EPS. As a group, equities research analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was 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 $9,443,439.36. This trade represents a 45.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 the business’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director owned 36,076 shares in the company, valued at $2,344,940. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by corporate insiders.

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.