Atreides Management LP Lowers Stock Holdings in Affirm Holdings, Inc. $AFRM

Atreides Management LP reduced its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 89.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 207,905 shares of the company’s stock after selling 1,769,977 shares during the period. Atreides Management LP owned about 0.06% of Affirm worth $15,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in AFRM. Vanguard Group Inc. lifted its position in shares of Affirm by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock valued at $1,784,545,000 after buying an additional 223,258 shares in the last quarter. Durable Capital Partners LP increased its holdings in Affirm by 12.3% in the 2nd quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after acquiring an additional 808,455 shares in the last quarter. Geode Capital Management LLC raised its position in Affirm by 5.8% during the second quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after acquiring an additional 254,359 shares during the period. State Street Corp raised its position in Affirm by 3.8% during the second quarter. State Street Corp now owns 4,454,300 shares of the company’s stock worth $307,970,000 after acquiring an additional 161,522 shares during the period. Finally, Invesco Ltd. lifted its holdings in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after purchasing an additional 3,234,260 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. 11.01% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several research analyst reports. Susquehanna reiterated a “positive” rating and issued a $100.00 target price on shares of Affirm in a research report on Friday, February 6th. Stephens decreased their price target on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, February 6th. Robert W. Baird began coverage on Affirm in a report on Thursday, February 19th. They issued a “neutral” rating and a $55.00 price objective on the stock. Royal Bank Of Canada reduced their target price on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Finally, Wall Street Zen downgraded Affirm from a “buy” rating to a “hold” rating in a research report on Saturday, January 3rd. Twenty investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $84.36.

Affirm Stock Performance

NASDAQ:AFRM opened at $46.88 on Friday. The company has a market cap of $15.62 billion, a P/E ratio of 57.88, a P/E/G ratio of 1.72 and a beta of 3.61. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The company’s 50-day moving average price is $60.71 and its 200-day moving average price is $70.26. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The company had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter in the prior year, the company earned $0.23 EPS. Affirm’s revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal 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.