Capelight Capital Asset Management LP Purchases New Stake in Affirm Holdings, Inc. $AFRM

Capelight Capital Asset Management LP bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 66,000 shares of the company’s stock, valued at approximately $4,912,000. Affirm accounts for approximately 4.0% of Capelight Capital Asset Management LP’s investment portfolio, making the stock its 5th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of AFRM. Invesco Ltd. raised its holdings in shares of Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares during the period. Atreides Management LP raised its holdings in shares of Affirm by 543.3% during the second quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock worth $136,751,000 after purchasing an additional 1,670,429 shares during the period. State Street Corp raised its holdings in shares of Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the period. Alliancebernstein L.P. raised its holdings in shares of Affirm by 333.5% during the third quarter. Alliancebernstein L.P. now owns 1,166,370 shares of the company’s stock worth $85,238,000 after purchasing an additional 897,340 shares during the period. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Affirm by 68.9% during the third quarter. Qube Research & Technologies Ltd now owns 2,146,092 shares of the company’s stock worth $156,836,000 after purchasing an additional 875,813 shares during the period. 69.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AFRM has been the topic of a number of research reports. UBS Group set a $78.00 target price on shares of Affirm in a report on Friday, February 6th. Bank of America initiated coverage on shares of Affirm in a report on Thursday, March 5th. They set a “buy” rating and a $82.00 target price on the stock. Zacks Research raised shares of Affirm from a “hold” rating to a “strong-buy” rating in a report on Tuesday, March 31st. Royal Bank Of Canada dropped their target price on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating on the stock in a report on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Affirm in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Read Our Latest Analysis on AFRM

Affirm Stock Up 7.4%

AFRM stock opened at $55.82 on Wednesday. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm Holdings, Inc. has a fifty-two week low of $39.35 and a fifty-two week high of $100.00. The firm’s 50-day simple moving average is $49.42 and its 200 day simple moving average is $64.17. The stock has a market cap of $18.59 billion, a PE ratio of 68.91, a price-to-earnings-growth ratio of 3.60 and a beta of 3.63.

Affirm (NASDAQ:AFRM – Get Free Report) last released its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The business had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company earned $0.23 EPS. The company’s revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, sell-side analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Affirm Company Profile

(Free Report)

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.

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