20,403 Shares in Affirm Holdings, Inc. $AFRM Bought by SteelPeak Wealth LLC

Key Points

• SteelPeak Wealth LLC opened a new position in Affirm, buying 20,403 shares in the first quarter, worth about $935,000.
• Affirm reported strong quarterly results, posting EPS of $0.30 versus estimates of $0.17 and 32.7% revenue growth year over year, though revenue came in below expectations.
• Analysts remain generally positive on AFRM, with a Moderate Buy consensus and an average price target of $92.04, even as some insiders recently sold shares.

SteelPeak Wealth LLC bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 20,403 shares of the company's stock, valued at approximately $935,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Greenline Wealth Management LLC bought a new stake in shares of Affirm in the fourth quarter valued at about $26,000. Triumph Capital Management bought a new position in shares of Affirm during the third quarter worth about $31,000. CoreCap Advisors LLC grew its holdings in shares of Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock worth $33,000 after buying an additional 358 shares in the last quarter. Strive Financial Group LLC acquired a new stake in Affirm in the 4th quarter valued at approximately $33,000. Finally, Larson Financial Group LLC raised its position in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company's stock valued at $36,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $76.07 on Friday. The stock has a 50 day moving average price of $73.19 and a 200 day moving average price of $63.82. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The stock has a market capitalization 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 - Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.13. The firm 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%.The business's revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. Analysts predict that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on AFRM shares. Zacks Research cut Affirm from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, April 29th. Stephens lifted their price objective on shares of Affirm from $55.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Truist Financial lifted their price objective on shares of Affirm from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 28th. Needham & Company LLC boosted their price objective on shares of Affirm from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Finally, Morgan Stanley set a $79.00 target price on shares of Affirm and gave the stock an "overweight" rating in a report on Sunday, May 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $92.04.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the company's stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company's stock, valued at approximately $2,344,940. This represents a 5.25% decrease in their ownership of the stock. 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, COO Michael Linford sold 100,000 shares of the 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 completion of 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 position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company 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.

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