Bayforest Capital Ltd Cuts Position in Affirm Holdings, Inc. $AFRM

Bayforest Capital Ltd trimmed its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 85.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,825 shares of the company’s stock after selling 10,437 shares during the period. Bayforest Capital Ltd’s holdings in Affirm were worth $133,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in AFRM. Yousif Capital Management LLC lifted its holdings in shares of Affirm by 5.1% during the 3rd quarter. Yousif Capital Management LLC now owns 3,243 shares of the company’s stock valued at $237,000 after acquiring an additional 158 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in shares of Affirm by 13.2% during the third quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company’s stock worth $108,000 after purchasing an additional 171 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Affirm by 4.4% in the third quarter. GAMMA Investing LLC now owns 4,850 shares of the company’s stock worth $354,000 after buying an additional 206 shares during the period. Apollon Wealth Management LLC grew its stake in shares of Affirm by 3.5% in the third quarter. Apollon Wealth Management LLC now owns 6,335 shares of the company’s stock valued at $463,000 after buying an additional 212 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Affirm by 41.9% during the 2nd quarter. Allworth Financial LP now owns 799 shares of the company’s stock valued at $55,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Activity

In related news, CFO Robert O’hare sold 36,401 shares of the stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, the chief financial officer owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 711,256 shares of company stock valued at $57,231,923 in the last ninety days. Corporate insiders own 11.01% of the company’s stock.

Affirm Stock Down 4.4%

NASDAQ:AFRM opened at $72.61 on Thursday. The company has a debt-to-equity ratio of 2.40, a quick ratio of 12.80 and a current ratio of 12.80. The company has a market capitalization of $23.97 billion, a price-to-earnings ratio of 108.37, a price-to-earnings-growth ratio of 3.45 and a beta of 3.57. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The stock has a 50-day simple moving average of $72.48 and a 200 day simple moving average of $74.34.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million for the quarter, compared to analysts’ expectations of $881.83 million. During the same quarter in the prior year, the firm posted ($0.31) earnings per share. Affirm’s revenue for the quarter was up 33.6% compared to the same quarter last year. Sell-side analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Morgan Stanley decreased their price target on Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Wednesday, December 17th. Royal Bank Of Canada dropped their price target on shares of Affirm from $97.00 to $87.00 and set a “sector perform” rating on the stock in a research note on Friday, November 7th. Truist Financial decreased their price objective on shares of Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Finally, TD Cowen lowered their target price on Affirm from $115.00 to $110.00 and set a “buy” rating for the company in a research note on Thursday, January 8th. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $89.17.

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.