Weiss Asset Management LP Takes Position in Affirm Holdings, Inc. $AFRM

Weiss Asset Management LP acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, Holdings Channel reports. The fund acquired 80,254 shares of the company’s stock, valued at approximately $3,677,000.

A number of other institutional investors also recently bought and sold shares of the stock. Greenline Wealth Management LLC purchased a new stake in Affirm during the 4th quarter worth approximately $26,000. Syntegra Private Wealth Group LLC purchased a new position in shares of Affirm in the first quarter worth $28,000. Triumph Capital Management purchased a new position in shares of Affirm in the third quarter worth $31,000. CoreCap Advisors LLC lifted its stake in shares of Affirm by 431.3% during the fourth 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. Finally, Strive Financial Group LLC acquired a new stake in shares of Affirm during the fourth quarter worth $33,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of Affirm 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 approximately $2,344,940. The trade was a 5.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were 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 directly owned 117,984 shares in the company, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. 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 insiders.

Analyst Upgrades and Downgrades

AFRM has been the topic of several research reports. Susquehanna upped their target price on Affirm from $100.00 to $105.00 and gave the company a “positive” rating in a research report on Thursday, June 25th. Sanford C. Bernstein began coverage on Affirm in a research report on Tuesday, July 21st. They set an “outperform” rating and a $100.00 price target for the company. Needham & Company LLC boosted their price target on Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Cantor Fitzgerald increased their price objective on Affirm from $80.00 to $88.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Citizens Jmp reduced their price objective on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $92.74.

Affirm Stock Performance

Shares of Affirm stock opened at $70.23 on Monday. The firm has a market capitalization of $23.52 billion, a PE ratio of 63.85, a P/E/G ratio of 2.86 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. The firm’s 50-day moving average price is $73.92 and its 200 day moving average price is $63.64. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $995.27 million. During the same period in the prior year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. On average, sell-side analysts predict that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal 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.