Foxhaven Asset Management LP Purchases New Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Foxhaven Asset Management LP acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,328,684 shares of the company’s stock, valued at approximately $80,917,000. Affirm comprises 2.2% of Foxhaven Asset Management LP’s holdings, making the stock its 15th biggest position.

Several other institutional investors and hedge funds also recently bought and sold shares of AFRM. Itau Unibanco Holding S.A. acquired a new stake in shares of Affirm during the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. lifted its position in Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 410 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Affirm during the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC purchased a new position in shares of Affirm during the 4th quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Affirm in the fourth quarter worth $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The stock was 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 of the company’s stock, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the transaction, the director now directly owns 38,997 shares of the company’s stock, valued at approximately $1,785,282.66. The trade was a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,765 shares of company stock valued at $3,094,694. 12.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AFRM has been the subject of a number of research reports. Susquehanna raised Affirm from a “neutral” rating to a “positive” rating and set a $65.00 price objective for the company in a research report on Friday. Wells Fargo & Company reduced their price target on Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Compass Point upgraded Affirm from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. JMP Securities reduced their target price on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research note on Friday. Finally, Evercore ISI assumed coverage on shares of Affirm in a research note on Wednesday, April 9th. They set an “outperform” rating and a $50.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.63.

Affirm Price Performance

NASDAQ:AFRM opened at $46.44 on Friday. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The stock has a market cap of $14.77 billion, a P/E ratio of -71.45 and a beta of 3.66. The company has a fifty day moving average price of $46.42 and a 200 day moving average price of $56.60. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The business had revenue of $783.14 million during the quarter, compared to analysts’ expectations of $782.98 million. During the same quarter last year, the company earned ($0.43) earnings per share. The firm’s revenue was up 35.9% on a year-over-year basis. Analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

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.