Bleakley Financial Group LLC Invests $613,000 in Affirm Holdings, Inc. $AFRM

Bleakley Financial Group LLC acquired a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 13,377 shares of the company’s stock, valued at approximately $613,000.

Several other institutional investors and hedge funds have also modified their holdings of AFRM. Greenline Wealth Management LLC acquired a new stake in Affirm during the fourth quarter worth approximately $26,000. Syntegra Private Wealth Group LLC purchased a new stake in Affirm in the 1st quarter worth approximately $28,000. Triumph Capital Management acquired a new position in Affirm in the 3rd quarter valued at $31,000. CoreCap Advisors LLC raised its holdings in Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after acquiring an additional 358 shares during the last quarter. Finally, Strive Financial Group LLC acquired a new position in Affirm in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Down 4.7%

Shares of NASDAQ AFRM opened at $76.07 on Friday. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The firm has a fifty day moving average of $73.19 and a 200-day moving average of $63.82. The stock has a market capitalization of $25.48 billion, a PE ratio of 69.15, a P/E/G ratio of 3.07 and a beta of 3.67. The company has a quick ratio of 11.32, a current 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 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The business had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. During the same period last year, the company posted $0.01 EPS. The business’s quarterly revenue was up 32.7% on a year-over-year basis. On average, analysts anticipate that Affirm Holdings, Inc. will post 1.23 EPS for the current year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the director directly owned 36,076 shares in the company, valued at $2,344,940. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction dated 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 transaction, the chief operating officer directly owned 117,984 shares in the company, valued at $9,443,439.36. This represents a 45.87% 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.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on AFRM shares. Truist Financial raised their price objective on Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. BTIG Research reiterated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Zacks Research downgraded Affirm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 29th. Oppenheimer reissued an “outperform” rating and issued a $87.00 price target on shares of Affirm in a research note on Friday, May 8th. Finally, Robert W. Baird raised their price target on Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $92.04.

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.