Flight Deck Capital LP Sells 75,200 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Flight Deck Capital LP trimmed its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 42.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 102,800 shares of the company’s stock after selling 75,200 shares during the quarter. Affirm comprises approximately 7.0% of Flight Deck Capital LP’s holdings, making the stock its 7th largest position. Flight Deck Capital LP’s holdings in Affirm were worth $6,261,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Affirm in the fourth quarter valued at about $28,000. Geneos Wealth Management Inc. boosted its stake in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 410 shares during the period. R Squared Ltd acquired a new stake in Affirm in the 4th quarter valued at approximately $33,000. Coppell Advisory Solutions LLC bought a new position in Affirm in the 4th quarter worth approximately $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Affirm during the fourth quarter worth approximately $43,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on AFRM shares. Wells Fargo & Company dropped their target price on shares of Affirm from $85.00 to $67.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Barclays boosted their price objective on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. BMO Capital Markets restated an “outperform” rating and set a $69.00 price target on shares of Affirm in a research note on Thursday, March 20th. Finally, The Goldman Sachs Group reduced their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Affirm has an average rating of “Moderate Buy” and a consensus target price of $66.63.

Insider Activity at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the sale, the director now owns 38,997 shares of the company’s stock, valued at $1,785,282.66. This represents a 6.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the completion of the transaction, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,765 shares of company stock valued at $3,094,694 in the last three months. Corporate insiders own 12.41% of the company’s stock.

Affirm Stock Down 14.4 %

AFRM opened at $46.44 on Friday. The firm has a market cap of $14.77 billion, a price-to-earnings ratio of -71.45 and a beta of 3.66. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm’s 50-day simple moving average is $46.42 and its 200-day simple moving average is $56.60. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The firm had revenue of $783.14 million for the quarter, compared to analysts’ expectations of $782.98 million. During the same period in the prior year, the firm earned ($0.43) earnings per share. The company’s quarterly revenue was up 35.9% compared to the same quarter last year. Equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.