Globeflex Capital L P Makes New $2.57 Million Investment in Affirm Holdings, Inc. $AFRM

Key Points

• Globeflex Capital LP disclosed a new position in Affirm Holdings, buying 56,039 shares worth about $2.57 million in the first quarter.
• Institutional ownership in Affirm remains high at 69.29%, and several large funds, including Vanguard and Geode Capital, also increased their stakes.
• Wall Street sentiment is broadly positive on AFRM, with a Moderate Buy consensus and an average price target of $92.63, even as some analysts trimmed or downgraded ratings.

Globeflex Capital L P purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 56,039 shares of the company's stock, valued at approximately $2,568,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. SBI Securities Co. Ltd. grew its stake in Affirm by 83.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company's stock valued at $3,610,000 after purchasing an additional 22,054 shares during the last quarter. Capelight Capital Asset Management LP acquired a new position in shares of Affirm in the fourth quarter valued at about $4,912,000. Geode Capital Management LLC raised its stake in shares of Affirm by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company's stock worth $408,433,000 after purchasing an additional 329,312 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Affirm by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 24,847,206 shares of the company's stock worth $1,849,378,000 after purchasing an additional 428,138 shares during the last quarter. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of Affirm during the fourth quarter worth about $2,861,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AFRM. Morgan Stanley set a $79.00 target price on Affirm and gave the company an "overweight" rating in a research report on Sunday, May 10th. Sanford C. Bernstein assumed coverage on shares of Affirm in a research note on Tuesday. They set an "outperform" rating and a $100.00 price objective for the company. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Affirm from $80.00 to $85.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Zacks Research cut shares of Affirm from a "strong-buy" rating to a "hold" rating in a report on Wednesday, April 29th. Finally, Oppenheimer restated an "outperform" rating and set a $87.00 target price on shares of Affirm in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $92.63.

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. Also, COO Michael Linford sold 100,000 shares of the company's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the transaction, the chief operating officer 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 position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company's stock.

Affirm Stock Down 1.1%

Shares of AFRM stock opened at $73.92 on Thursday. The stock has a 50 day moving average of $73.76 and a 200 day moving average of $63.74. 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 cap of $24.76 billion, a P/E ratio of 67.20, a P/E/G ratio of 3.06 and a beta of 3.67. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, sell-side analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.