Quantbot Technologies LP Buys 11,034 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Quantbot Technologies LP lifted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 21.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,928 shares of the company’s stock after acquiring an additional 11,034 shares during the quarter. Quantbot Technologies LP’s holdings in Affirm were worth $2,569,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in AFRM. Charles Schwab Investment Management Inc. grew its holdings in Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Affirm during the 2nd quarter valued at approximately $45,219,000. Bank of New York Mellon Corp lifted its holdings in shares of Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after buying an additional 176,675 shares during the last quarter. Artemis Investment Management LLP bought a new stake in shares of Affirm in the third quarter valued at approximately $30,808,000. Finally, Bank of Montreal Can grew its stake in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after acquiring an additional 528,400 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several recent research reports. Susquehanna lifted their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Wells Fargo & Company raised their price target on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their price objective on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Mizuho upped their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $51.13.

Affirm Stock Performance

Shares of Affirm stock opened at $68.37 on Thursday. The firm has a 50 day simple moving average of $47.84 and a 200 day simple moving average of $37.25. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $70.20. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The firm has a market cap of $21.47 billion, a P/E ratio of -48.15 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the previous year, the company posted ($0.57) earnings per share. Sell-side analysts predict that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Insider Buying and Selling at Affirm

In other Affirm news, CFO Robert O’hare sold 79,039 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $70.01, for a total value of $5,533,520.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Libor Michalek sold 96,332 shares of Affirm stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $70.01, for a total transaction of $6,744,203.32. Following the transaction, the president now directly owns 159,449 shares in the company, valued at $11,163,024.49. The trade was a 37.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 868,253 shares of company stock worth $52,186,668. Company insiders own 12.41% of the company’s stock.

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.