499,858 Shares in Affirm Holdings, Inc. (NASDAQ:AFRM) Acquired by Atreides Management LP

Atreides Management LP purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 499,858 shares of the company’s stock, valued at approximately $20,404,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. KBC Group NV raised its stake in shares of Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after purchasing an additional 233 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after purchasing an additional 540 shares during the last quarter. ORG Partners LLC raised its stake in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Myecfo LLC raised its stake in shares of Affirm by 5.0% in the third quarter. Myecfo LLC now owns 12,260 shares of the company’s stock worth $500,000 after purchasing an additional 589 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on AFRM shares. Wells Fargo & Company increased their price objective on 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 increased their price objective on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Barclays upped their target price on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, October 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Affirm presently has an average rating of “Hold” and an average target price of $52.53.

Insider Buying and Selling at Affirm

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total transaction of $5,551,590.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now owns 141,903 shares in the company, valued at approximately $5,678,958.06. This represents a 9.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 868,253 shares of company stock valued at $52,186,668. Company insiders own 12.41% of the company’s stock.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $70.01 on Monday. The stock has a fifty day simple moving average of $49.29 and a two-hundred day simple moving average of $37.98. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $70.88. The firm has a market cap of $21.99 billion, a price-to-earnings ratio of -49.30 and a beta of 3.47. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. During the same period in the prior year, the company earned ($0.57) earnings per share. Analysts anticipate that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Affirm 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.