Readystate Asset Management LP Increases Stake in Affirm Holdings, Inc. $AFRM

Readystate Asset Management LP increased its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 85.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,345 shares of the company’s stock after purchasing an additional 29,698 shares during the period. Readystate Asset Management LP’s holdings in Affirm were worth $2,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of AFRM. Royal Bank of Canada lifted its stake in shares of Affirm by 2.1% during the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after buying an additional 3,892 shares during the period. Empowered Funds LLC increased its position in shares of Affirm by 90.7% in the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after acquiring an additional 8,014 shares during the period. Focus Partners Wealth purchased a new position in Affirm in the 1st quarter worth $243,000. EverSource Wealth Advisors LLC raised its stake in Affirm by 18.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after acquiring an additional 427 shares during the last quarter. Finally, First Trust Advisors LP lifted its position in Affirm by 44.8% during the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock worth $13,242,000 after acquiring an additional 59,297 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In related news, COO Michael Linford sold 100,000 shares of the stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Affirm Stock Down 0.9%

Shares of AFRM opened at $72.40 on Wednesday. The company has a market capitalization of $24.25 billion, a price-to-earnings ratio of 65.82, a PEG ratio of 2.98 and a beta of 3.67. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The stock’s 50-day moving average price is $74.24 and its 200-day moving average price is $63.50. 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 announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. During the same period last year, the business earned $0.01 earnings per share. Affirm’s quarterly revenue was up 32.7% on a year-over-year basis. On average, sell-side analysts predict that Affirm Holdings, Inc. will post 1.23 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on AFRM. Stephens increased their price objective on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Royal Bank Of Canada lifted their target price on Affirm from $77.00 to $80.00 and gave the stock a “sector perform” rating in a report on Friday, May 8th. Wells Fargo & Company upped their target price on Affirm from $89.00 to $96.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. Finally, The Goldman Sachs Group raised their price target on shares of Affirm from $90.00 to $106.00 and gave the stock a “buy” rating in a research report on Thursday, July 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.74.

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.