Globeflex Capital L P Makes New $2.57 Million Investment in Affirm Holdings, Inc. $AFRM

Globeflex Capital L P purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,039 shares of the company’s stock, valued at approximately $2,568,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in Affirm by 83.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock valued at $3,610,000 after purchasing an additional 22,054 shares during the last quarter. Capelight Capital Asset Management LP acquired a new position in shares of Affirm in the fourth quarter valued at about $4,912,000. Geode Capital Management LLC raised its stake in shares of Affirm by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock worth $408,433,000 after purchasing an additional 329,312 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company’s stock worth $1,849,378,000 after purchasing an additional 428,138 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of Affirm during the fourth quarter worth about $2,861,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AFRM. Morgan Stanley set a $79.00 target price on Affirm and gave the company an “overweight” rating in a research report on Sunday, May 10th. Sanford C. Bernstein assumed coverage on shares of Affirm in a research note on Tuesday. They set an “outperform” rating and a $100.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Zacks Research cut shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, Oppenheimer restated an “outperform” rating and set a $87.00 target price on shares of Affirm in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.63.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction on Wednesday, May 13th. The shares were 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 approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Affirm Stock Down 1.1%

Shares of AFRM stock opened at $73.92 on Thursday. The stock has a 50 day moving average of $73.76 and a 200 day moving average of $63.74. 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 stock has a market cap of $24.76 billion, a P/E ratio of 67.20, a P/E/G ratio of 3.06 and a beta of 3.67. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, sell-side analysts expect that Affirm Holdings, Inc. will post 1.23 EPS 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.