Affirm Holdings, Inc. $AFRM is Spyglass Capital Management LLC's 5th Largest Position

Key Points

• Spyglass Capital Management increased its Affirm stake by 15.2% in the first quarter to 1.66 million shares valued at approximately $76.2 million, making Affirm the fund’s fifth-largest holding. Institutional investors collectively own 69.29% of the company.
• Affirm reported quarterly EPS of $0.30, beating estimates of $0.17, while revenue rose 32.7% year over year to $943.95 million. The stock opened at $72.40, down 0.9%, and has traded between $42.10 and $100 over the past year.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $92.74. However, company insiders recently sold shares, including the COO’s $8 million transaction, both under pre-arranged Rule 10b5-1 plans.

Spyglass Capital Management LLC raised its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 15.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,662,325 shares of the company's stock after buying an additional 218,745 shares during the quarter. Affirm comprises 5.4% of Spyglass Capital Management LLC's investment portfolio, making the stock its 5th largest position. Spyglass Capital Management LLC owned approximately 0.50% of Affirm worth $76,168,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Greenline Wealth Management LLC purchased a new position in Affirm during the 4th quarter valued at $26,000. Triumph Capital Management purchased a new stake in shares of Affirm in the 3rd quarter worth about $31,000. CoreCap Advisors LLC boosted its stake in shares of Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock valued at $33,000 after purchasing an additional 358 shares in the last quarter. Strive Financial Group LLC bought a new stake in shares of Affirm during the 4th quarter valued at about $33,000. Finally, Larson Financial Group LLC increased its position in shares of Affirm by 74.5% during the third 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 period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Noel Bertram Watson sold 2,000 shares of the business's 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 sale, the director directly 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 document filed with the SEC, which is available through the SEC website. 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 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 completion of the sale, the chief operating officer owned 117,984 shares in the company, valued at $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. Insiders own 11.01% of the company's stock.

Affirm Trading Down 0.9%

Shares of NASDAQ AFRM opened at $72.40 on Wednesday. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The stock has a market cap of $24.25 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 2.98 and a beta of 3.67. The firm has a 50-day moving average of $74.24 and a 200 day moving average of $63.50. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping 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 business had revenue of $943.95 million for the quarter, compared to analysts' expectations of $995.27 million. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business's revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on AFRM shares. Weiss Ratings restated a "hold (c-)" rating on shares of Affirm in a report on Wednesday, June 24th. Oppenheimer reiterated an "outperform" rating and set a $87.00 target price on shares of Affirm in a report on Friday, May 8th. Citigroup increased their target price on Affirm from $100.00 to $115.00 and gave the stock a "buy" rating in a research report on Wednesday, July 1st. Morgan Stanley set a $79.00 target price on Affirm and gave the company an "overweight" rating in a research note on Sunday, May 10th. Finally, Truist Financial lifted their price target on Affirm from $80.00 to $83.00 and gave the company a "buy" rating in a research report on Friday, July 24th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Affirm currently has an average rating of "Moderate Buy" and a consensus target price of $92.74.

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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