Fortress Investment Group LLC Takes $1.22 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Fortress Investment Group LLC bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 20,000 shares of the company's stock, valued at approximately $1,218,000. Affirm accounts for approximately 0.2% of Fortress Investment Group LLC's holdings, making the stock its 14th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Affirm by 208.6% in the third quarter. Tidal Investments LLC now owns 21,775 shares of the company's stock worth $889,000 after buying an additional 14,720 shares during the last quarter. Nordea Investment Management AB acquired a new stake in Affirm during the fourth quarter valued at $6,380,000. Diversified Trust Co bought a new stake in shares of Affirm in the 4th quarter valued at approximately $225,000. SeaCrest Wealth Management LLC acquired a new position in shares of Affirm during the 4th quarter worth $387,000. Finally, Mount Vernon Associates Inc. MD raised its holdings in Affirm by 45.0% during the fourth quarter. Mount Vernon Associates Inc. MD now owns 11,600 shares of the company's stock valued at $706,000 after buying an additional 3,600 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Affirm Trading Down 6.9%

Shares of AFRM traded down $3.93 during trading hours on Thursday, reaching $52.62. The stock had a trading volume of 6,896,527 shares, compared to its average volume of 8,524,030. The company has a market cap of $16.74 billion, a P/E ratio of -81.15 and a beta of 3.66. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a 50-day moving average of $46.44 and a 200 day moving average of $56.88.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The company had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The company's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AFRM. Compass Point raised shares of Affirm from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. Barclays boosted their price target on shares of Affirm from $45.00 to $53.00 and gave the company an "overweight" rating in a report on Monday. William Blair assumed coverage on Affirm in a research report on Wednesday, January 15th. They set an "outperform" rating for the company. Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a research note on Monday, March 24th. Finally, UBS Group dropped their target price on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Seven investment 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 company. According to MarketBeat, Affirm presently has an average rating of "Moderate Buy" and a consensus price target of $65.05.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $45.78, for a total transaction of $114,450.00. Following the completion of the transaction, the director now directly owns 38,997 shares in the company, valued at approximately $1,785,282.66. This trade represents a 6.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,089 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the sale, the director now owns 29,343 shares in the company, valued at $1,496,493. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 55,765 shares of company stock valued at $3,094,694. 12.41% of the stock is owned by corporate insiders.

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.