Spyglass Capital Management LLC Has $125.41 Million Stake in Affirm Holdings, Inc. $AFRM

Spyglass Capital Management LLC lessened its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 7.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,537,840 shares of the company’s stock after selling 124,485 shares during the quarter. Affirm makes up about 6.8% of Spyglass Capital Management LLC’s portfolio, making the stock its biggest position. Spyglass Capital Management LLC owned about 0.46% of Affirm worth $125,411,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Greenline Wealth Management LLC bought a new position in shares of Affirm during the 4th quarter worth approximately $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm in the first quarter worth $28,000. Triumph Capital Management bought a new stake in shares of Affirm in the third quarter worth $31,000. Strive Financial Group LLC acquired a new position in Affirm during the fourth quarter worth $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Affirm during the first quarter worth $34,000. Institutional investors own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, COO Michael Linford sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Compass Point set a $100.00 price target on shares of Affirm in a research note on Friday, July 17th. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Robert W. Baird raised their price objective on Affirm from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings raised Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research report on Friday. Finally, Morgan Stanley upped their target price on Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a report on Friday. Twenty-two equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $99.20.

Affirm News Summary

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Affirm’s fiscal fourth-quarter results exceeded expectations, with earnings per share of $4.62 versus the $0.35 consensus estimate. Gross merchandise volume (GMV) increased 36% year over year, while transaction activity and adoption of the Affirm Card continued to rise. Revenue grew 33.1% to $1.07 billion, although it fell modestly short of estimates. Affirm Q4 Earnings Beat on Strong GMV Growth, Rising Card Adoption
• Positive Sentiment: Several analysts remain constructive on AFRM. JPMorgan raised its price target to $105, while BMO Capital Markets, RBC and Cantor Fitzgerald maintained bullish views or forecasts for further appreciation. JPMorgan Increases Affirm Price Target
• Neutral Sentiment: CEO Max Levchin said higher gasoline prices could increase demand for buy now, pay later products as consumers manage household expenses. However, elevated living costs could also pressure consumers’ ability to repay loans. Affirm CEO Sees Greater BNPL Demand as Gas Prices Climb
• Negative Sentiment: The initial earnings-driven rally is unwinding as investors focus on increasing credit losses and operating expenses, as well as the slight revenue miss. Heavy reliance on third-party providers also presents additional regulatory, compliance and operational risks. Affirm’s Heavy Reliance on Third Parties Raises Regulatory and Compliance Risks

Affirm Trading Down 4.3%

Shares of NASDAQ:AFRM opened at $74.45 on Tuesday. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The company has a market capitalization of $24.93 billion, a P/E ratio of 13.49, a price-to-earnings-growth ratio of 3.13 and a beta of 3.71. The company has a 50-day simple moving average of $77.49 and a 200 day simple moving average of $64.75. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.20 earnings per share. The business’s revenue was up 33.1% compared to the same quarter last year. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.75 earnings per share for the current 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.