Capelight Capital Asset Management LP Sells 16,000 Shares of Affirm Holdings, Inc. $AFRM

Capelight Capital Asset Management LP lessened its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 24.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 50,000 shares of the company’s stock after selling 16,000 shares during the period. Affirm accounts for 1.6% of Capelight Capital Asset Management LP’s holdings, making the stock its 21st biggest position. Capelight Capital Asset Management LP’s holdings in Affirm were worth $2,291,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Royal Bank of Canada boosted its holdings in shares of Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after buying an additional 3,892 shares during the period. Empowered Funds LLC lifted its position in Affirm by 90.7% during the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after acquiring an additional 8,014 shares during the last quarter. Focus Partners Wealth bought a new stake in shares of Affirm during the first quarter worth approximately $243,000. EverSource Wealth Advisors LLC boosted its holdings in shares of Affirm by 18.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after acquiring an additional 427 shares during the period. Finally, First Trust Advisors LP grew its position in shares of Affirm by 44.8% in the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after purchasing an additional 59,297 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Up 0.9%

Shares of NASDAQ AFRM opened at $84.58 on Friday. The stock has a market capitalization of $28.33 billion, a P/E ratio of 76.89, a PEG ratio of 3.45 and a beta of 3.67. The stock’s fifty day moving average is $69.32 and its 200 day moving average is $63.14. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. 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 (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping 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 analysts’ expectations of $995.27 million. During the same quarter in the prior year, the business posted $0.01 earnings per share. Affirm’s revenue was up 32.7% compared to the same quarter last year. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, 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 completion of the transaction, the director directly owned 36,076 shares in the company, valued at $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction 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 completion of the sale, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This represents 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. In the last ninety days, insiders have sold 104,000 shares of company stock valued at $8,244,000. 11.01% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AFRM shares. Piper Sandler assumed coverage on Affirm in a research note on Monday. They set an “overweight” rating and a $103.00 target price on the stock. BMO Capital Markets assumed coverage on Affirm in a report on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 price objective on the stock. Truist Financial lifted their target price on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Zacks Research cut shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Finally, Mizuho upped their price target on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.20.

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.