Ardmore Road Asset Management LP Acquires 101,000 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Ardmore Road Asset Management LP increased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 50.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 301,000 shares of the company’s stock after purchasing an additional 101,000 shares during the period. Affirm makes up approximately 2.7% of Ardmore Road Asset Management LP’s holdings, making the stock its 16th biggest position. Ardmore Road Asset Management LP’s holdings in Affirm were worth $18,331,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of AFRM. Groupama Asset Managment bought a new position in shares of Affirm in the fourth quarter worth about $30,450,000. Headlands Technologies LLC bought a new stake in Affirm during the fourth quarter worth approximately $1,938,000. Geode Capital Management LLC raised its position in Affirm by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 4,173,353 shares of the company’s stock valued at $254,238,000 after purchasing an additional 212,234 shares during the period. HighPoint Advisor Group LLC bought a new stake in shares of Affirm in the 4th quarter valued at approximately $159,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Affirm by 29.3% in the 4th quarter. Franklin Resources Inc. now owns 8,893 shares of the company’s stock worth $542,000 after purchasing an additional 2,015 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now directly owns 38,997 shares in the company, valued at $1,785,282.66. The trade was a 6.02 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the sale, the director now directly owns 137,325 shares in the company, valued at $10,986,000. The trade was a 3.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,301 shares of company stock valued at $3,920,543. 12.41% of the stock is currently owned by corporate insiders.

Affirm Stock Up 0.7 %

Shares of AFRM stock opened at $45.51 on Wednesday. The firm’s fifty day moving average price is $59.42 and its two-hundred day moving average price is $56.54. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $14.47 billion, a P/E ratio of -70.02 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, equities analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AFRM has been the subject of a number of research analyst reports. Wells Fargo & Company raised their price target on Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. JMP Securities boosted their target price on shares of Affirm from $78.00 to $85.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Susquehanna downgraded shares of Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a research note on Tuesday, January 21st. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Friday, February 7th. Finally, Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and boosted their price target for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.76.

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.