Steadview Capital Management LLC Makes New Investment in Affirm Holdings, Inc. $AFRM

Steadview Capital Management LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,300 shares of the company’s stock, valued at approximately $972,000. Affirm comprises 0.1% of Steadview Capital Management LLC’s investment portfolio, making the stock its 12th biggest position.

A number of other hedge funds have also modified their holdings of the business. Yousif Capital Management LLC grew its holdings in 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 buying an additional 158 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Affirm by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company’s stock valued at $108,000 after acquiring an additional 171 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Affirm by 4.4% during the third quarter. GAMMA Investing LLC now owns 4,850 shares of the company’s stock valued at $354,000 after acquiring an additional 206 shares during the last quarter. Apollon Wealth Management LLC increased its position in Affirm by 3.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,335 shares of the company’s stock worth $463,000 after purchasing an additional 212 shares in the last quarter. Finally, Allworth Financial LP raised its stake in Affirm by 41.9% in the 2nd quarter. Allworth Financial LP now owns 799 shares of the company’s stock valued at $55,000 after purchasing an additional 236 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

AFRM stock opened at $72.83 on Friday. The company has a market cap of $24.04 billion, a PE ratio of 108.70, a price-to-earnings-growth ratio of 3.25 and a beta of 3.57. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock has a 50-day moving average price of $72.36 and a two-hundred day moving average price of $74.47. Affirm Holdings, Inc. has a 12-month low of $30.90 and a 12-month high of $100.00.

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

Insider Activity at Affirm

In related news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $109,440. This represents a 96.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of the 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. Over the last quarter, insiders have sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on AFRM. Rothschild Redb raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 6th. TD Cowen restated a “buy” rating on shares of Affirm in a research report on Thursday, January 8th. BTIG Research reaffirmed a “neutral” rating on shares of Affirm in a research note on Wednesday, December 17th. Rothschild & Co Redburn upgraded Affirm from a “neutral” rating to a “buy” rating and boosted their price target for the company from $74.00 to $101.00 in a report on Monday, October 6th. Finally, Truist Financial reduced their price target on Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $89.17.

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.