Readystate Asset Management LP Takes Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Readystate Asset Management LP purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,200 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors have also made changes to their positions in the company. Planned Solutions Inc. bought a new stake in Affirm during the fourth quarter worth approximately $25,000. Covestor Ltd bought a new stake in Affirm during the first quarter worth approximately $30,000. Creative Financial Designs Inc. ADV boosted its position in Affirm by 82.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after purchasing an additional 300 shares during the period. American International Group Inc. bought a new stake in Affirm during the second quarter worth approximately $33,000. Finally, MetLife Investment Management LLC boosted its position in Affirm by 23.1% during the fourth quarter. MetLife Investment Management LLC now owns 4,496 shares of the company’s stock worth $43,000 after purchasing an additional 845 shares during the period. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

AFRM has been the subject of a number of recent analyst reports. Needham & Company LLC began coverage on Affirm in a research report on Wednesday, April 3rd. They set a “hold” rating for the company. Stephens increased their price objective on Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Barclays reduced their price objective on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, JPMorgan Chase & Co. upped their target price on Affirm from $35.00 to $41.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $27.86.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $34.39, for a total value of $319,001.64. Following the transaction, the director now owns 78,552 shares in the company, valued at $2,701,403.28. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 13.05% of the stock is owned by company insiders.

Affirm Price Performance

Shares of NASDAQ:AFRM traded up $0.28 during midday trading on Thursday, reaching $31.15. The company’s stock had a trading volume of 7,060,129 shares, compared to its average volume of 9,673,061. Affirm Holdings, Inc. has a fifty-two week low of $8.80 and a fifty-two week high of $52.48. The company has a market capitalization of $9.56 billion, a P/E ratio of -12.51 and a beta of 3.57. The company has a debt-to-equity ratio of 2.35, a current ratio of 11.49 and a quick ratio of 11.49. The business’s fifty day simple moving average is $36.37 and its 200-day simple moving average is $34.43.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.08. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. The company had revenue of $591.11 million during the quarter, compared to analyst estimates of $523.92 million. As a group, equities research analysts expect that Affirm Holdings, Inc. will post -2.45 EPS for the current fiscal year.

Affirm Company Profile

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.