Affirm Holdings, Inc. $AFRM Shares Bought by Readystate Asset Management LP

Readystate Asset Management LP lifted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 85.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 64,345 shares of the company’s stock after buying an additional 29,698 shares during the period. Readystate Asset Management LP’s holdings in Affirm were worth $2,948,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in AFRM. Greenline Wealth Management LLC acquired a new stake in Affirm in the 4th quarter valued at $26,000. Triumph Capital Management acquired a new position in Affirm during the third quarter worth $31,000. CoreCap Advisors LLC lifted its holdings in Affirm by 431.3% during the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after purchasing an additional 358 shares in the last quarter. Strive Financial Group LLC purchased a new position in Affirm during the fourth quarter valued at $33,000. Finally, Larson Financial Group LLC grew its position in shares of Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In other news, COO Michael Linford sold 100,000 shares of the company’s stock in a transaction that occurred 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Affirm Stock Performance

NASDAQ:AFRM opened at $72.40 on Wednesday. The company has a market cap of $24.25 billion, a P/E ratio of 65.82, a P/E/G ratio of 2.98 and a beta of 3.67. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $100.00. The company’s 50-day moving average price is $74.24 and its 200-day moving average price is $63.50. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. The company had revenue of $943.95 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently weighed in on AFRM. TD Cowen upped their price target on shares of Affirm from $90.00 to $117.00 and gave the stock a “buy” rating in a research report on Tuesday, July 7th. Bank of America boosted their price objective on Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a research note on Monday, May 11th. Deutsche Bank Aktiengesellschaft increased their target price on Affirm from $80.00 to $85.00 and gave the company a “buy” rating in a report on Thursday, June 25th. Piper Sandler started coverage on Affirm in a research note on Monday, June 29th. They issued an “overweight” rating and a $103.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price target on Affirm from $80.00 to $88.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $92.74.

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.