Affirm Holdings, Inc. $AFRM Shares Bought by Steadview Capital Management LLC

Key Points

• Steadview Capital Management dramatically increased its stake in Affirm by 1,612.1% in the fourth quarter, buying 214,405 additional shares and bringing its total to 227,705 shares worth about $16.95 million.
• Affirm also saw mixed activity from insiders and institutions: director Noel Bertram Watson sold 2,000 shares in a pre-arranged transaction, while institutional investors still own about 69.29% of the stock overall.
• The company recently reported better-than-expected earnings of $0.30 per share, though revenue missed estimates; analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $86.

Steadview Capital Management LLC lifted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1,612.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 227,705 shares of the company's stock after buying an additional 214,405 shares during the period. Affirm makes up approximately 3.2% of Steadview Capital Management LLC's investment portfolio, making the stock its 8th biggest holding. Steadview Capital Management LLC owned 0.07% of Affirm worth $16,948,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. lifted its stake in shares of Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company's stock worth $25,000 after buying an additional 178 shares during the period. Mount Vernon Associates Inc. MD lifted its stake in shares of Affirm by 0.5% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company's stock worth $3,195,000 after buying an additional 200 shares during the period. Fifth Third Bancorp lifted its stake in shares of Affirm by 63.6% during the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company's stock worth $39,000 after buying an additional 203 shares during the period. Rakuten Securities Inc. lifted its stake in shares of Affirm by 1.3% during the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company's stock worth $1,237,000 after buying an additional 206 shares during the period. Finally, Larson Financial Group LLC lifted its stake in shares of Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company's stock worth $36,000 after buying an additional 213 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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. Insiders own 11.01% of the company's stock.

Affirm Trading Down 2.9%

Shares of Affirm stock opened at $65.22 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The firm has a fifty day moving average price of $56.18 and a 200 day moving average price of $62.62. 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 $21.84 billion, a PE ratio of 59.29, a price-to-earnings-growth ratio of 4.00 and a beta of 3.72.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm had revenue of $943.95 million during the quarter, compared to analysts' expectations of $995.27 million. During the same quarter last year, the company posted $0.01 earnings per share. The firm's revenue was up 32.7% compared to the same quarter last year. Equities research analysts predict that Affirm Holdings, Inc. will post 1.21 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on AFRM shares. Morgan Stanley set a $79.00 price objective on shares of Affirm and gave the stock an "overweight" rating in a research note on Sunday, May 10th. Royal Bank Of Canada lifted their price objective on shares of Affirm from $77.00 to $80.00 and gave the stock a "sector perform" rating in a research note on Friday, May 8th. BTIG Research reiterated a "neutral" rating on shares of Affirm in a research note on Thursday, February 26th. Mizuho lifted their price objective on shares of Affirm from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, May 14th. Finally, Citizens Jmp lowered their price objective on shares of Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a research note on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $86.00.

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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