Gables Capital Management Inc. Purchases New Shares in Affirm Holdings, Inc. $AFRM

Gables Capital Management Inc. acquired a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 6,300 shares of the company’s stock, valued at approximately $289,000.

A number of other large investors have also recently made changes to their positions in AFRM. Royal Bank of Canada grew its position in Affirm by 2.1% in the first quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after acquiring an additional 3,892 shares in the last quarter. Empowered Funds LLC raised its holdings in Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock valued at $762,000 after buying an additional 8,014 shares during the period. Focus Partners Wealth bought a new stake in Affirm in the first quarter worth $243,000. EverSource Wealth Advisors LLC boosted its stake in Affirm by 18.5% during the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after buying an additional 427 shares during the period. Finally, First Trust Advisors LP increased its position in Affirm by 44.8% during the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after acquiring an additional 59,297 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

NASDAQ:AFRM traded down $0.36 during trading hours on Friday, hitting $83.42. 3,468,851 shares of the company were exchanged, compared to its average volume of 4,079,038. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company’s 50 day moving average price is $71.67 and its 200-day moving average price is $63.66. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The stock has a market capitalization of $27.94 billion, a price-to-earnings ratio of 75.84, a PEG ratio of 3.43 and a beta of 3.67.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. As a group, research analysts forecast that Affirm Holdings, Inc. will post 1.23 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently commented on AFRM. Stephens lifted their price target on shares of Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Needham & Company LLC upped their price objective on Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Friday, May 8th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Robert W. Baird set a $70.00 price target on shares of Affirm in a research note on Friday, May 8th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Affirm in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.35.

Insiders Place Their Bets

In other Affirm news, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the transaction, the director owned 36,076 shares in the company, valued at $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. Insiders have sold 104,000 shares of company stock worth $8,244,000 over the last three months. 11.01% of the stock is currently owned by insiders.

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.