Globeflex Capital L P Takes $5.99 Million Position in Affirm Holdings, Inc. $AFRM

Key Points

• Globeflex Capital initiated a $5.99 million position in Affirm during the second quarter by purchasing 73,405 shares. Institutional investors collectively own 69.29% of the company.
• Analysts remain broadly positive, with Affirm receiving a consensus “Moderate Buy” rating and an average price target of $93.15; TD Cowen raised its target to $117.
• Affirm shares opened at $77.03, with a 12-month range of $42.10 to $100.00. COO Michael Linford sold 100,000 shares for $8.0 million under a pre-arranged Rule 10b5-1 trading plan.

Globeflex Capital L P bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 73,405 shares of the company's stock, valued at approximately $5,986,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new position in Affirm in the fourth quarter worth approximately $281,961,000. Invesco Ltd. lifted its position in shares of Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company's stock valued at $316,706,000 after acquiring an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company's stock worth $157,004,000 after acquiring an additional 2,141,881 shares in the last quarter. Atreides Management LP boosted its stake in shares of Affirm by 543.3% during the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company's stock worth $136,751,000 after acquiring an additional 1,670,429 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company's stock worth $412,315,000 after acquiring an additional 1,187,665 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

AFRM has been the subject of several analyst reports. TD Cowen upped their target price on Affirm from $90.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Oppenheimer reissued an "outperform" rating and issued a $87.00 price target on shares of Affirm in a research note on Friday, May 8th. Susquehanna boosted their price objective on Affirm from $100.00 to $105.00 and gave the stock a "positive" rating in a report on Thursday, June 25th. Compass Point set a $100.00 price objective on shares of Affirm in a research note on Friday, July 17th. Finally, Stephens upped their price objective on shares of Affirm from $55.00 to $75.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, Affirm presently has an average rating of "Moderate Buy" and a consensus target price of $93.15.

Insiders Place Their Bets

In related news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated 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 sale, the chief operating officer directly owned 117,984 shares of the company's stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company's stock.

Affirm Price Performance

AFRM opened at $77.03 on Monday. The firm has a market capitalization of $25.80 billion, a P/E ratio of 70.03, a PEG ratio of 3.15 and a beta of 3.71. The stock has a fifty day moving average of $77.02 and a 200-day moving average of $64.02. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 12-month low of $42.10 and a 12-month high of $100.00.

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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