Bleakley Financial Group LLC Acquires New Position in Affirm Holdings, Inc. $AFRM

Key Points

• Bleakley Financial Group opened a new position in Affirm during the first quarter, buying 13,377 shares worth about $613,000.
• Several analysts are still constructive on AFRM, with firms like Piper Sandler and Susquehanna raising targets; the stock now carries a Moderate Buy consensus and an average price target of $92.04.
• Affirm’s latest quarter beat earnings expectations, posting $0.30 EPS versus the $0.17 estimate, though revenue of $943.95 million came in below forecasts; the company’s shares recently traded at $76.07.

Bleakley Financial Group LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,377 shares of the company's stock, valued at approximately $613,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Greenline Wealth Management LLC acquired a new stake in shares of Affirm in the 4th quarter valued at approximately $26,000. Triumph Capital Management acquired a new position in Affirm during the third quarter worth $31,000. CoreCap Advisors LLC raised its position in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company's stock worth $33,000 after acquiring an additional 358 shares in the last quarter. Strive Financial Group LLC purchased a new position in Affirm in the fourth quarter worth $33,000. Finally, Larson Financial Group LLC lifted its holdings in 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 acquiring an additional 213 shares during the period. Institutional investors and hedge funds own 69.29% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on AFRM. BTIG Research restated a "neutral" rating on shares of Affirm in a research report on Tuesday, May 26th. UBS Group boosted their price objective on shares of Affirm from $78.00 to $82.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. Susquehanna upped their target price on shares of Affirm from $100.00 to $105.00 and gave the stock a "positive" rating in a research report on Thursday, June 25th. Piper Sandler began coverage on shares of Affirm in a research report on Monday, June 29th. They set an "overweight" rating and a $103.00 target price on the stock. Finally, Truist Financial increased their target price on shares of Affirm from $75.00 to $80.00 and gave the company a "buy" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $92.04.

Insider Buying and Selling

In other news, Director Noel Bertram Watson sold 2,000 shares of the business's stock in a transaction 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing 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 business's stock in a transaction 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 transaction, the chief operating officer directly owned 117,984 shares of the company's stock, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. 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 corporate insiders.

Affirm Stock Performance

Shares of AFRM opened at $76.07 on Friday. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $100.00. The stock has a market cap of $25.48 billion, a P/E ratio of 69.15, a PEG ratio of 3.07 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The company has a 50-day moving average of $73.19 and a two-hundred day moving average of $63.82.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating 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 business had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. During the same period in the prior year, the business earned $0.01 earnings per share. The company's quarterly revenue was up 32.7% on a year-over-year basis. As a group, research analysts predict that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

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.

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