Caxton Associates LLP Invests $550,000 in Affirm Holdings, Inc. $AFRM

Caxton Associates LLP purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 1st quarter, HoldingsChannel.com reports. The fund purchased 12,000 shares of the company’s stock, valued at approximately $550,000.

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

Affirm Stock Up 4.0%

Shares of Affirm stock opened at $73.05 on Tuesday. The firm’s 50 day moving average price is $74.09 and its 200-day moving average price is $63.58. 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 Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company has a market cap of $24.46 billion, a P/E ratio of 66.41, a PEG ratio of 2.86 and a beta of 3.67.

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

Insiders Place Their Bets

In other news, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was 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 owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This trade represents a 45.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 on 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 owned 36,076 shares in the company, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 11.01% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on AFRM shares. Piper Sandler initiated coverage on shares of Affirm in a report on Monday, June 29th. They set an “overweight” rating and a $103.00 price objective on the stock. Robert W. Baird upped their target price on Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Stephens increased their target price on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. JPMorgan Chase & Co. lifted their price target on Affirm from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, July 8th. Finally, Barclays initiated coverage on Affirm in a report on Wednesday, July 8th. They issued an “overweight” rating and a $97.00 price target on the stock. Two investment analysts have 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $92.74.

Affirm 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.