Caprock Group LLC Takes $937,000 Position in Affirm Holdings, Inc. $AFRM

Caprock Group LLC bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 12,825 shares of the company’s stock, valued at approximately $937,000.

A number of other large investors have also recently added to or reduced their stakes in AFRM. Vanguard Group Inc. raised its position in shares of Affirm by 4.0% in the second quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company’s stock valued at $1,672,898,000 after purchasing an additional 922,813 shares during the period. Durable Capital Partners LP grew its stake in Affirm by 12.3% in the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock valued at $510,899,000 after buying an additional 808,455 shares during the last quarter. Geode Capital Management LLC raised its holdings in Affirm by 5.8% in the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after acquiring an additional 254,359 shares during the period. State Street Corp raised its holdings in Affirm by 3.8% in the 2nd quarter. State Street Corp now owns 4,454,300 shares of the company’s stock worth $307,970,000 after acquiring an additional 161,522 shares during the period. Finally, Foxhaven Asset Management LP lifted its position in Affirm by 39.1% during the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company’s stock worth $200,292,000 after acquiring an additional 814,951 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

AFRM has been the topic of several research analyst reports. Truist Financial lowered their price target on Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. The Goldman Sachs Group set a $83.00 target price on Affirm in a report on Friday, February 6th. Wolfe Research began coverage on Affirm in a research report on Tuesday, December 9th. They issued a “peer perform” rating for the company. BTIG Research restated a “neutral” rating on shares of Affirm in a research note on Wednesday, December 17th. Finally, Morgan Stanley raised shares of Affirm from an “equal weight” rating to an “overweight” rating and dropped their target price for the stock from $83.00 to $76.00 in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.67.

Affirm Trading Up 0.1%

Shares of AFRM stock opened at $49.81 on Monday. The firm has a fifty day moving average of $70.16 and a 200-day moving average of $73.85. The stock has a market cap of $16.59 billion, a price-to-earnings ratio of 61.49, a P/E/G ratio of 1.86 and a beta of 3.56. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41.

Affirm (NASDAQ:AFRM) last posted its earnings results 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. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the previous year, the firm posted $0.23 earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at Affirm

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction 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 sale, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. This represents a 96.38% decrease in their ownership of the stock. The sale was disclosed in a legal 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. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 711,256 shares of company stock valued at $57,231,923 in the last 90 days. 11.01% of the stock is owned by corporate insiders.

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.