Artemis Investment Management LLP Purchases 342,669 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Artemis Investment Management LLP increased its stake in Affirm by 75.9%, buying an additional 342,669 shares to hold 793,941 shares (≈0.24% of the company) valued at about $59.09 million per its SEC filing.
• Analysts are mixed but leaning positive, with a MarketBeat consensus of "Moderate Buy" and an average price target of $83.76 amid several recent price-target cuts and rating changes.
• Affirm recently beat quarterly estimates with $0.37 EPS (vs. $0.28) and $1.12B revenue (+29.6% YoY); the stock trades with a $22.5B market cap, a PE of 83.38, and a 52-week range of $42.10–$100.00.

Artemis Investment Management LLP grew its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 75.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 793,941 shares of the company's stock after purchasing an additional 342,669 shares during the period. Artemis Investment Management LLP owned approximately 0.24% of Affirm worth $59,093,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Assetmark Inc. increased its position in shares of Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Mather Group LLC. purchased a new stake in shares of Affirm in the 3rd quarter worth $29,000. Triumph Capital Management purchased a new stake in shares of Affirm in the 3rd quarter worth $31,000. CoreCap Advisors LLC increased its stake in shares of Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock worth $33,000 after purchasing an additional 358 shares in the last quarter. Finally, Larson Financial Group LLC increased its stake in shares of Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company's stock worth $36,000 after purchasing an additional 213 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

AFRM has been the subject of a number of analyst reports. Robert W. Baird initiated coverage on Affirm in a research note on Thursday, February 19th. They issued a "neutral" rating and a $55.00 price target for the company. Needham & Company LLC cut their price target on Affirm from $100.00 to $85.00 and set a "buy" rating for the company in a research note on Friday, February 6th. Weiss Ratings reiterated a "hold (c-)" rating on shares of Affirm in a research note on Friday, March 27th. Zacks Research downgraded shares of Affirm from a "strong-buy" rating to a "hold" rating in a report on Wednesday. Finally, Citizens Jmp dropped their price objective on shares of Affirm from $105.00 to $85.00 and set a "market outperform" rating for the company in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Affirm presently has a consensus rating of "Moderate Buy" and an average target price of $83.76.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $67.54 on Friday. The firm has a market cap of $22.50 billion, a PE ratio of 83.38, a price-to-earnings-growth ratio of 4.49 and a beta of 3.72. The firm's 50 day simple moving average is $51.59 and its 200-day simple moving average is $63.37. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The company's quarterly revenue was up 29.6% compared to the same quarter last year. During the same period last year, the company posted $0.23 earnings per share. As a group, equities analysts predict that Affirm Holdings, Inc. will post 1.08 EPS for the current year.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the transaction, the director directly owned 38,076 shares of the company's stock, valued at approximately $2,094,180. This trade represents a 4.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company's stock.

Affirm 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.

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