Affirm Holdings, Inc. $AFRM Stake Increased by Spyglass Capital Management LLC

Spyglass Capital Management LLC raised its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 15.2% in the first quarter, Holdings Channel reports. The firm owned 1,662,325 shares of the company’s stock after acquiring an additional 218,745 shares during the quarter. Affirm accounts for 5.4% of Spyglass Capital Management LLC’s holdings, making the stock its 5th biggest holding. Spyglass Capital Management LLC’s holdings in Affirm were worth $76,168,000 as of its most recent SEC filing.

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

Insider Activity at Affirm

In related news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through 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 business’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 sale, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Affirm Stock Performance

AFRM stock opened at $72.40 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The company has a market cap of $24.25 billion, a P/E ratio of 65.82, a price-to-earnings-growth ratio of 2.98 and a beta of 3.67. The stock’s fifty day moving average price is $74.24 and its 200-day moving average price is $63.50.

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AFRM. Wells Fargo & Company boosted their price target on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Morgan Stanley set a $79.00 price objective on Affirm and gave the company an “overweight” rating in a research report on Sunday, May 10th. Needham & Company LLC lifted their price objective on Affirm from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft boosted their target price on Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada raised their price target on shares of Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and a consensus target price of $92.74.

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.