Empowered Funds LLC Acquires 32,857 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Empowered Funds LLC increased its Affirm stake by 246.9% in the first quarter, purchasing 32,857 additional shares for a total holding of 46,165 shares valued at approximately $2.12 million. Institutional investors and hedge funds 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, though it fell short of analysts’ $995.27 million forecast.
• Analysts maintain a generally positive outlook, with the stock receiving a “Moderate Buy” consensus rating and an average price target of $92.74, compared with a recent price of $76.58. However, company insiders sold shares under pre-arranged trading plans, including a $8 million sale by COO Michael Linford.

Empowered Funds LLC raised its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 246.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 46,165 shares of the company's stock after purchasing an additional 32,857 shares during the quarter. Empowered Funds LLC's holdings in Affirm were worth $2,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Greenline Wealth Management LLC acquired a new stake in Affirm in the 4th quarter valued at $26,000. Syntegra Private Wealth Group LLC acquired a new stake in shares of Affirm in the 1st quarter valued at $28,000. Triumph Capital Management bought a new stake in shares of Affirm in the 3rd quarter worth about $31,000. Strive Financial Group LLC bought a new stake in shares of Affirm in the 4th quarter worth about $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Affirm during the 1st quarter worth about $34,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Affirm Trading Down 2.4%

AFRM opened at $76.58 on Friday. 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 stock has a market capitalization of $25.65 billion, a PE ratio of 69.62, a PEG ratio of 3.19 and a beta of 3.71. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00. The firm has a 50-day moving average price of $75.16 and a two-hundred day moving average price of $63.42.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) 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 company 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. Affirm's quarterly revenue was up 32.7% on a year-over-year basis. As a group, equities analysts anticipate that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFRM. Zacks Research raised shares of Affirm from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Royal Bank Of Canada raised their price objective on shares of Affirm from $77.00 to $80.00 and gave the stock a "sector perform" rating in a report on Friday, May 8th. BTIG Research reiterated a "neutral" rating on shares of Affirm in a research note on Tuesday, May 26th. Morgan Stanley set a $79.00 target price on Affirm and gave the stock an "overweight" rating in a report on Sunday, May 10th. Finally, Needham & Company LLC increased their price target on Affirm from $85.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, May 8th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and seven have issued a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $92.74.

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock in a transaction on Friday, June 26th. The shares were 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 owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. 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.

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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