Globeflex Capital L P Invests $2.57 Million in Affirm Holdings, Inc. $AFRM

Globeflex Capital L P bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the first quarter, Holdings Channel reports. The fund bought 56,039 shares of the company’s stock, valued at approximately $2,568,000.

A number of other institutional investors have also recently added to or reduced their stakes in AFRM. Mount Vernon Associates Inc. MD increased its holdings in Affirm by 0.5% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock worth $3,195,000 after acquiring an additional 200 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Affirm by 63.6% during the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock valued at $39,000 after purchasing an additional 203 shares in the last quarter. Rakuten Securities Inc. lifted its holdings in Affirm by 1.3% during the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock valued at $1,237,000 after purchasing an additional 206 shares in the last quarter. UMB Bank n.a. grew its position in shares of Affirm by 36.6% in the fourth quarter. UMB Bank n.a. now owns 783 shares of the company’s stock valued at $58,000 after purchasing an additional 210 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Performance

AFRM opened at $73.92 on Thursday. The firm has a market capitalization of $24.76 billion, a PE ratio of 67.20, a PEG 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. The firm’s 50-day moving average price is $73.76 and its 200 day moving average price is $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.

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

Analysts Set New Price Targets

Several research firms recently weighed in on AFRM. Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a research report on Wednesday, June 24th. TD Cowen lifted their price objective on Affirm from $90.00 to $117.00 and gave the stock a “buy” rating in a report on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 25th. BMO Capital Markets began coverage on Affirm in a research report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 target price on the stock. Finally, Barclays assumed coverage on Affirm in a research note on Wednesday, July 8th. They issued an “overweight” rating and a $97.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.63.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Affirm stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares in the company, valued at approximately $9,443,439.36. The trade was a 45.87% 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 owned by corporate insiders.

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.