Flight Deck Capital LP Acquires 31,800 Shares of Affirm Holdings, Inc. $AFRM

Flight Deck Capital LP lifted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 36.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 118,500 shares of the company’s stock after purchasing an additional 31,800 shares during the period. Affirm comprises about 6.6% of Flight Deck Capital LP’s portfolio, making the stock its 6th largest holding. Flight Deck Capital LP’s holdings in Affirm were worth $8,660,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Federated Hermes Inc. acquired a new position in Affirm during the third quarter worth $19,077,000. Resona Asset Management Co. Ltd. acquired a new stake in shares of Affirm in the third quarter valued at about $6,036,000. Gateway Investment Advisers LLC acquired a new stake in shares of Affirm in the third quarter valued at about $1,315,000. Envestnet Asset Management Inc. increased its stake in shares of Affirm by 26.1% during the third quarter. Envestnet Asset Management Inc. now owns 235,152 shares of the company’s stock worth $17,185,000 after purchasing an additional 48,734 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Affirm during the second quarter worth about $183,475,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Up 1.1%

Shares of NASDAQ AFRM opened at $46.88 on Monday. Affirm Holdings, Inc. has a 12-month low of $30.90 and a 12-month high of $100.00. The stock has a market cap of $15.62 billion, a PE ratio of 57.88, a P/E/G ratio of 1.72 and a beta of 3.61. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The company has a 50-day moving average of $60.71 and a 200 day moving average of $70.20.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. Affirm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on AFRM. The Goldman Sachs Group lowered shares of Affirm from a “buy” rating to a “hold” rating in a research note on Tuesday, February 24th. Needham & Company LLC cut their price objective on Affirm from $100.00 to $85.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Mizuho reduced their target price on Affirm from $114.00 to $95.00 and set an “outperform” rating for the company in a report on Monday, February 9th. UBS Group set a $78.00 target price on Affirm in a research report on Friday, February 6th. Finally, Compass Point reaffirmed a “buy” rating and issued a $68.00 price target on shares of Affirm in a research note on Wednesday, February 18th. Twenty investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $84.36.

Insider Activity at Affirm

In related news, CFO Robert O’hare sold 36,401 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The SEC filing for this sale provides additional information. 11.01% of the stock is currently owned by company insiders.

Affirm Company 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.