Affirm Holdings, Inc. $AFRM Stock Position Boosted by Flight Deck Capital LP

Flight Deck Capital LP raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 36.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 118,500 shares of the company’s stock after acquiring an additional 31,800 shares during the period. Affirm accounts for about 6.6% of Flight Deck Capital LP’s portfolio, making the stock its 6th largest position. Flight Deck Capital LP’s holdings in Affirm were worth $8,660,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its holdings in shares of Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after buying an additional 178 shares during the last quarter. Mather Group LLC. acquired a new position in Affirm in the third quarter valued at approximately $29,000. Quent Capital LLC acquired a new position in Affirm in the third quarter valued at approximately $43,000. Allworth Financial LP grew its position in Affirm by 41.9% in the second quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after acquiring an additional 236 shares during the period. Finally, CI Investments Inc. grew its position in Affirm by 131.1% in the third quarter. CI Investments Inc. now owns 929 shares of the company’s stock worth $68,000 after acquiring an additional 527 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Stock Up 1.1%

Shares of NASDAQ AFRM opened at $46.88 on Monday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. The business’s 50 day moving average is $60.71 and its two-hundred day moving average is $70.20. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 57.88, a PEG ratio of 1.72 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.06 billion. During the same period last year, the business posted $0.23 earnings per share. The company’s quarterly revenue was up 29.6% on a year-over-year basis. Research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AFRM shares. Bank of America initiated coverage on Affirm in a research report on Thursday, March 5th. They issued a “buy” rating and a $82.00 target price on the stock. Truist Financial lowered their price target on Affirm from $85.00 to $71.00 and set a “buy” rating for the company in a report on Friday, February 20th. Stephens cut their price objective on Affirm from $75.00 to $65.00 and set an “equal weight” rating for the company in a research report on Friday, February 6th. Citigroup restated a “market outperform” rating on shares of Affirm in a report on Tuesday, February 24th. Finally, Robert W. Baird began coverage on shares of Affirm in a research report on Thursday, February 19th. They issued a “neutral” rating and a $55.00 target price on the stock. Twenty research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $84.36.

Insider Activity

In related news, CEO Max R. Levchin sold 666,666 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of Affirm stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.01% of the stock is currently 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.