Westfield Capital Management Co. LP Has $63.40 Million Stock Position in Affirm Holdings, Inc. $AFRM

Key Points

• Westfield Capital Management increased its stake in Affirm by 21.4% in the fourth quarter, ending with 851,834 shares valued at about $63.4 million.
• Affirm continues to attract major institutional interest, with 69.29% of the stock now held by institutional investors and hedge funds.
• On the operating side, Affirm beat earnings expectations in its latest quarter, reporting $0.30 EPS versus the $0.17 estimate, while revenue rose 32.7% year over year.

Westfield Capital Management Co. LP boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 21.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 851,834 shares of the company's stock after purchasing an additional 150,227 shares during the period. Westfield Capital Management Co. LP owned about 0.26% of Affirm worth $63,402,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Mount Vernon Associates Inc. MD lifted its stake in Affirm by 0.5% in the 4th quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company's stock valued at $3,195,000 after purchasing an additional 200 shares during the last quarter. Fifth Third Bancorp lifted its stake in Affirm by 63.6% in the 4th quarter. Fifth Third Bancorp now owns 522 shares of the company's stock valued at $39,000 after purchasing an additional 203 shares during the last quarter. Rakuten Securities Inc. lifted its stake in Affirm by 1.3% in the 4th quarter. Rakuten Securities Inc. now owns 16,622 shares of the company's stock valued at $1,237,000 after purchasing an additional 206 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in Affirm by 74.5% in the 3rd 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. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Affirm

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 sale, the director directly 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 document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Compass Point reissued a "buy" rating and issued a $68.00 price target on shares of Affirm in a report on Wednesday, February 18th. Zacks Research lowered shares of Affirm from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, April 29th. Truist Financial raised their target price on shares of Affirm from $75.00 to $80.00 and gave the company a "buy" rating in a research report on Thursday, May 28th. Citigroup restated a "buy" rating on shares of Affirm in a research report on Wednesday, April 15th. Finally, UBS Group raised their price objective on shares of Affirm from $78.00 to $82.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $86.20.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $63.61 on Friday. The firm has a market cap of $21.30 billion, a PE ratio of 57.83, a price-to-earnings-growth ratio of 3.95 and a beta of 3.70. The firm's fifty day moving average is $60.91 and its 200-day moving average is $62.38. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. Affirm's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. Sell-side analysts predict that Affirm Holdings, Inc. will post 1.25 earnings per share for the current 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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