Moore Capital Management LP Grows Stock Position in Affirm Holdings, Inc. $AFRM

Moore Capital Management LP raised its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 662.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 323,872 shares of the company’s stock after buying an additional 281,372 shares during the quarter. Moore Capital Management LP’s holdings in Affirm were worth $24,106,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Affirm during the 4th quarter worth about $281,961,000. Invesco Ltd. lifted its position in Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after acquiring an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after acquiring an additional 2,141,881 shares during the period. Atreides Management LP lifted its position in Affirm by 543.3% during the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after acquiring an additional 1,670,429 shares during the period. Finally, State Street Corp lifted its position in Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after acquiring an additional 1,187,665 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Mizuho lifted their price target on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Thursday, May 14th. Bank of America lifted their price target on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a research report on Tuesday, May 26th. JPMorgan Chase & Co. lifted their price target on Affirm from $79.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Truist Financial lifted their price target on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Affirm currently has an average rating of “Moderate Buy” and an average target price of $86.20.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,000 shares of the business’s 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 owned 36,076 shares of the company’s stock, valued at $2,344,940. The trade was a 5.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company insiders.

Affirm Stock Performance

Shares of AFRM stock opened at $70.73 on Thursday. The stock has a market cap of $23.69 billion, a PE ratio of 64.30, a price-to-earnings-growth ratio of 4.30 and a beta of 3.70. The business has a 50-day simple moving average of $64.54 and a 200-day simple moving average of $62.43. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million during 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 company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.01 EPS. On average, equities analysts expect that Affirm Holdings, Inc. will post 1.25 EPS for the current year.

Affirm Company Profile

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.