Clear Street Group Inc. Raises Holdings in Affirm Holdings, Inc. $AFRM

Clear Street Group Inc. raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 42.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,478 shares of the company’s stock after purchasing an additional 18,908 shares during the period. Clear Street Group Inc.’s holdings in Affirm were worth $4,725,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in AFRM. Royal Bank of Canada boosted its stake in Affirm by 2.1% during the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock valued at $8,748,000 after purchasing an additional 3,892 shares during the last quarter. Empowered Funds LLC boosted its stake in Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after purchasing an additional 8,014 shares during the last quarter. Focus Partners Wealth purchased a new stake in Affirm during the 1st quarter valued at $243,000. EverSource Wealth Advisors LLC boosted its stake in Affirm by 18.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock valued at $189,000 after purchasing an additional 427 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Affirm by 44.8% during the 2nd 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. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Price Performance

Shares of Affirm stock opened at $66.17 on Friday. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The stock’s fifty day moving average is $63.02 and its 200 day moving average is $62.38. The stock has a market cap of $22.16 billion, a P/E ratio of 60.15, a P/E/G ratio of 3.81 and a beta of 3.70. 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 announced its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company had revenue of $943.95 million for the quarter, compared to analysts’ expectations of $995.27 million. During the same period last year, the firm earned $0.01 EPS. Affirm’s revenue for the quarter was up 32.7% compared to the same quarter last year. Sell-side analysts anticipate that Affirm Holdings, Inc. will post 1.25 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on AFRM shares. Compass Point reiterated a “buy” rating and set a $68.00 target price on shares of Affirm in a research note on Wednesday, February 18th. Robert W. Baird set a $70.00 target price on Affirm in a research note on Friday, May 8th. Needham & Company LLC increased their target price on Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Citigroup reiterated a “buy” rating on shares of Affirm in a research note on Wednesday, April 15th. Finally, Cantor Fitzgerald increased their target price on Affirm from $61.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Affirm currently has an average rating of “Moderate Buy” and an average target price of $86.20.

Insider Buying and Selling

In other Affirm 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 transaction of $130,000.00. Following the sale, the director directly owned 36,076 shares of the company’s stock, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by corporate 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.