Gables Capital Management Inc. Makes New $289,000 Investment in Affirm Holdings, Inc. $AFRM

Gables Capital Management Inc. bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,300 shares of the company’s stock, valued at approximately $289,000.

Several other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new stake in Affirm in the 4th quarter worth $281,961,000. Invesco Ltd. raised its holdings in Affirm by 294.2% in the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake 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 worth $157,004,000 after acquiring an additional 2,141,881 shares in the last quarter. Atreides Management LP lifted its holdings in shares of Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Finally, State Street Corp raised its stake in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after buying an additional 1,187,665 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AFRM. Cantor Fitzgerald upped their price objective on Affirm from $61.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research note on Wednesday, June 24th. Barclays started coverage on Affirm in a report on Wednesday. They issued an “overweight” rating and a $97.00 target price on the stock. UBS Group raised their target price on shares of Affirm from $78.00 to $82.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Finally, Royal Bank Of Canada raised their price target on Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.35.

Insider Buying and Selling at Affirm

In other Affirm news, COO Michael Linford sold 100,000 shares of the 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 owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The shares were 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 of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 104,000 shares of company stock worth $8,244,000. Corporate insiders own 11.01% of the company’s stock.

Affirm Price Performance

Shares of Affirm stock traded down $0.36 on Friday, hitting $83.42. 3,468,851 shares of the company traded hands, compared to its average volume of 4,079,038. The stock has a market capitalization of $27.94 billion, a P/E ratio of 75.84, a price-to-earnings-growth ratio of 3.43 and a beta of 3.67. 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 Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The business has a 50-day simple moving average of $71.67 and a 200 day simple moving average of $63.66.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. Research analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share 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.