Cannon Global Investment Management LLC Buys Shares of 8,000 Affirm Holdings, Inc. $AFRM

Cannon Global Investment Management LLC bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,000 shares of the company’s stock, valued at approximately $595,000. Affirm accounts for about 1.5% of Cannon Global Investment Management LLC’s portfolio, making the stock its 27th biggest holding.

Other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its position in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the period. Mather Group LLC. bought a new position in Affirm during the third quarter valued at about $29,000. Triumph Capital Management bought a new position in Affirm during the third quarter valued at about $31,000. CoreCap Advisors LLC increased its stake 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 acquiring an additional 358 shares during the period. Finally, Larson Financial Group LLC increased its stake in Affirm by 74.5% during the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on AFRM. Citigroup restated a “buy” rating on shares of Affirm in a research note on Wednesday, April 15th. Citizens Jmp lowered their price target on Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a research note on Friday. TD Cowen restated a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Bank of America began coverage on Affirm in a research note on Thursday, March 5th. They set a “buy” rating and a $82.00 price target on the stock. Finally, Morgan Stanley restated an “overweight” rating on shares of Affirm in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $84.17.

Affirm Stock Up 4.0%

NASDAQ AFRM opened at $67.06 on Tuesday. 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 stock’s 50 day moving average is $49.72 and its two-hundred day moving average is $63.82. The company has a market capitalization of $22.34 billion, a price-to-earnings ratio of 82.79, a PEG ratio of 4.47 and a beta of 3.63. Affirm Holdings, Inc. has a 1-year low of $39.42 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.23 earnings per share. Equities analysts forecast that Affirm Holdings, Inc. will post 1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of Affirm stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $55.00, for a total transaction of $110,000.00. Following the sale, the director directly owned 38,076 shares of the company’s stock, valued at approximately $2,094,180. The trade was a 4.99% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

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.