Affirm Holdings, Inc. $AFRM is Steadview Capital Management LLC’s 8th Largest Position

Steadview Capital Management LLC raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1,612.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 227,705 shares of the company’s stock after purchasing an additional 214,405 shares during the period. Affirm accounts for about 3.2% of Steadview Capital Management LLC’s portfolio, making the stock its 8th largest position. Steadview Capital Management LLC’s holdings in Affirm were worth $16,948,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AFRM. Assetmark Inc. increased its holdings in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares in the last quarter. Triumph Capital Management purchased a new position in Affirm in the third quarter valued at $31,000. CoreCap Advisors LLC increased its holdings in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares in the last quarter. Larson Financial Group LLC increased its holdings in 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 buying an additional 213 shares in the last quarter. Finally, Bogart Wealth LLC grew its position in shares of Affirm by 2,381.0% in the fourth quarter. Bogart Wealth LLC now owns 521 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on AFRM. Cantor Fitzgerald lifted their target price on shares of Affirm from $61.00 to $80.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research report on Friday, March 27th. Mizuho lifted their target price on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Stephens lifted their target price on shares of Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, TD Cowen reiterated a “buy” rating on shares of Affirm in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Insiders Place Their Bets

In related news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the transaction, the director directly owned 36,076 shares in the company, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Affirm Stock Down 2.9%

Shares of NASDAQ AFRM opened at $65.22 on Friday. The firm has a market cap of $21.84 billion, a price-to-earnings ratio of 59.29, a price-to-earnings-growth ratio of 4.00 and a beta of 3.72. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company’s 50-day simple moving average is $56.18 and its 200-day simple moving average is $62.62. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The firm had revenue of $943.95 million for the quarter, compared to analyst estimates of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. Affirm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. Equities analysts predict that Affirm Holdings, Inc. will post 1.21 EPS for the current fiscal year.

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.