Evolutionary Tree Capital Management LLC Sells 8,739 Shares of Affirm Holdings, Inc. $AFRM

Evolutionary Tree Capital Management LLC decreased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 26.2% during the 1st quarter, HoldingsChannel.com reports. The firm owned 24,574 shares of the company’s stock after selling 8,739 shares during the period. Affirm makes up 2.1% of Evolutionary Tree Capital Management LLC’s investment portfolio, making the stock its 24th biggest holding. Evolutionary Tree Capital Management LLC’s holdings in Affirm were worth $1,126,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Royal Bank of Canada grew its holdings 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 in the last quarter. Empowered Funds LLC lifted its stake in 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 in the last quarter. Focus Partners Wealth acquired a new position in Affirm during the 1st quarter worth approximately $243,000. EverSource Wealth Advisors LLC boosted its position in Affirm by 18.5% during 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 grew its stake in shares of 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 in the last quarter. 69.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. UBS Group raised their target price on shares of Affirm from $78.00 to $82.00 and gave the company a “neutral” rating in a research report on Monday, May 11th. BMO Capital Markets started coverage on shares of Affirm in a research note on Tuesday, April 21st. They issued an “outperform” rating and a $75.00 price target on the stock. Wells Fargo & Company boosted their price target on shares of Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a research report on Wednesday, July 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Affirm from $80.00 to $85.00 and gave the stock a “buy” rating in a research note on Thursday, June 25th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $92.74.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $71.51 on Friday. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $23.95 billion, a P/E ratio of 65.01, a P/E/G ratio of 2.98 and a beta of 3.67. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $100.00. The stock has a 50 day moving average of $74.54 and a 200-day moving average of $63.42.

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

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. Also, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director directly owned 36,076 shares in the company, valued at $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is 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.