GC Wealth Management RIA LLC Makes New Investment in Affirm Holdings, Inc. $AFRM

Key Points

• GC Wealth Management RIA LLC has invested approximately $485,000 in a new position with Affirm Holdings, acquiring 7,012 shares in the second quarter of 2023.
• Affirm's stock recently traded at $73.08 and has a market capitalization of $23.80 billion, with a significant jump in revenue reported, up 32.9% year-over-year for the last quarter.
• Insider sales included a transaction where CEO Max R. Levchin sold 651,713 shares valued at over $58 million, indicating notable insider activity in the recent months.

GC Wealth Management RIA LLC bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 7,012 shares of the company's stock, valued at approximately $485,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its holdings in Affirm by 140.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock worth $205,350,000 after purchasing an additional 2,657,074 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Affirm by 6.7% in the first quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after acquiring an additional 1,457,434 shares during the period. Lord Abbett & CO. LLC lifted its holdings in Affirm by 1,137.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,282,663 shares of the company's stock valued at $57,964,000 after acquiring an additional 1,179,016 shares during the period. Allspring Global Investments Holdings LLC acquired a new position in shares of Affirm during the 1st quarter worth $45,133,000. Finally, Durable Capital Partners LP raised its stake in shares of Affirm by 12.3% during the 1st quarter. Durable Capital Partners LP now owns 6,580,882 shares of the company's stock worth $297,390,000 after buying an additional 722,599 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Trading Down 4.5%

Affirm stock opened at $73.08 on Wednesday. The firm has a market capitalization of $23.80 billion, a price-to-earnings ratio of 562.20, a PEG ratio of 4.97 and a beta of 3.64. The company has a quick ratio of 11.54, a current ratio of 11.54 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The firm has a 50-day moving average price of $78.90 and a two-hundred day moving average price of $62.53.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, August 28th. The company reported $0.20 EPS for the quarter, beating analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $876.42 million for the quarter, compared to analyst estimates of $834.94 million. Affirm had a return on equity of 1.80% and a net margin of 1.62%.The company's quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the company earned ($0.14) earnings per share. Affirm has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. Sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

AFRM has been the subject of several analyst reports. Stephens initiated coverage on shares of Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 target price for the company. Truist Financial lifted their price target on Affirm from $72.00 to $95.00 and gave the company a "buy" rating in a report on Friday, September 12th. Bank of America boosted their target price on Affirm from $90.00 to $94.00 and gave the stock a "buy" rating in a report on Friday, August 29th. Barclays boosted their target price on Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Finally, Zacks Research cut Affirm from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $80.04.

Insider Activity

In other news, Director Christa S. Quarles sold 15,000 shares of Affirm stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $93.00, for a total transaction of $1,395,000.00. Following the completion of the sale, the director directly owned 122,241 shares in the company, valued at $11,368,413. The trade was a 10.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Max R. Levchin sold 651,713 shares of the firm's stock in a transaction that occurred on Monday, September 22nd. The shares were sold at an average price of $89.27, for a total value of $58,178,419.51. The disclosure for this sale can be found here. In the last three months, insiders sold 1,921,456 shares of company stock worth $160,284,531. Corporate insiders own 11.82% of the company's stock.

Affirm Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.

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