Weiss Asset Management LP Invests $3.68 Million in Affirm Holdings, Inc. $AFRM

Weiss Asset Management LP purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 80,254 shares of the company’s stock, valued at approximately $3,677,000.

Other large investors have also recently modified their holdings of the company. Greenline Wealth Management LLC purchased a new position in Affirm during the 4th quarter worth $26,000. Triumph Capital Management purchased a new stake in shares of Affirm in the 3rd quarter worth $31,000. CoreCap Advisors LLC lifted its holdings in shares of Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after buying an additional 358 shares during the period. Strive Financial Group LLC bought a new position in shares of Affirm during the 4th quarter worth $33,000. Finally, Larson Financial Group LLC grew its position in shares of Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after buying an additional 213 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling

In related news, COO Michael Linford sold 100,000 shares of the stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the completion of the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm’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 transaction of $130,000.00. Following the completion of the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. 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 Price Performance

AFRM opened at $70.23 on Monday. The firm has a market capitalization of $23.52 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 2.86 and a beta of 3.67. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The business’s 50-day moving average is $73.92 and its two-hundred day moving average is $63.64. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The business had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same period in the prior year, the firm posted $0.01 earnings per share. The company’s quarterly revenue was up 32.7% on a year-over-year basis. Research analysts anticipate that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on AFRM shares. Citigroup increased their target price on shares of Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a report on Wednesday, July 1st. TD Cowen upped their price target on shares of Affirm from $90.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Wells Fargo & Company increased their price objective on shares of Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a research note on Wednesday, July 8th. Sanford C. Bernstein initiated coverage on shares of Affirm in a report on Tuesday, July 21st. They set an “outperform” rating and a $100.00 price objective on the stock. Finally, Susquehanna boosted their price objective on shares of Affirm from $100.00 to $105.00 and gave the stock a “positive” rating in a research note on Thursday, June 25th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has a consensus rating of “Moderate Buy” and a consensus price target of $92.74.

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.