Holocene Advisors LP Takes $27.87 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Holocene Advisors LP acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 682,797 shares of the company’s stock, valued at approximately $27,872,000. Holocene Advisors LP owned about 0.22% of Affirm at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC bought a new position in Affirm in the second quarter worth about $45,219,000. Artemis Investment Management LLP bought a new stake in shares of Affirm in the 3rd quarter worth approximately $30,808,000. Charles Schwab Investment Management Inc. boosted its position in Affirm by 44.0% during the 3rd 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 period. Bank of Montreal Can increased its position in 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 buying an additional 528,400 shares during the period. Finally, Atreides Management LP acquired a new position in shares of Affirm during the third quarter valued at $20,404,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on AFRM shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. The Goldman Sachs Group lifted their price target on Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a report on Monday. Bank of America increased their price objective on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.33.

Insiders Place Their Bets

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 9.21 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 200,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the completion of the sale, the insider now owns 93,545 shares of the company’s stock, valued at $5,149,652.25. The trade was a 68.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 868,253 shares of company stock worth $52,186,668. Company insiders own 12.41% of the company’s stock.

Affirm Trading Down 2.3 %

Shares of NASDAQ:AFRM opened at $68.39 on Tuesday. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of -48.16 and a beta of 3.47. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $72.10. The company has a 50 day moving average price of $49.29 and a 200 day moving average price of $38.02. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $661.39 million. During the same period in the previous year, the firm posted ($0.57) EPS. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal 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.