Durable Capital Partners LP Acquires 2,888,827 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Durable Capital Partners LP increased its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 97.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,858,283 shares of the company's stock after purchasing an additional 2,888,827 shares during the period. Affirm makes up approximately 2.9% of Durable Capital Partners LP's investment portfolio, making the stock its 14th largest holding. Durable Capital Partners LP owned about 1.87% of Affirm worth $356,769,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Affirm during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. raised its holdings in Affirm by 356.5% during 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 during the period. R Squared Ltd bought a new position in Affirm in the fourth quarter valued at approximately $33,000. Coppell Advisory Solutions LLC acquired a new position in shares of Affirm in the fourth quarter valued at approximately $40,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Affirm during the fourth quarter worth $43,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on AFRM. Barclays increased their target price on Affirm from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Monday, February 10th. Susquehanna downgraded Affirm from a "positive" rating to a "neutral" rating and set a $57.00 price target for the company. in a research report on Tuesday, January 21st. Seaport Res Ptn raised shares of Affirm to a "hold" rating in a research report on Monday, March 24th. William Blair initiated coverage on shares of Affirm in a research note on Wednesday, January 15th. They set an "outperform" rating for the company. Finally, Wells Fargo & Company decreased their price objective on Affirm from $85.00 to $67.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Affirm presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.00.

Insider Buying and Selling at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction that occurred on Friday, February 14th. The shares were 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 in the company, valued at $10,986,000. This trade represents a 3.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total transaction of $730,556.08. Following the transaction, the director now owns 45,432 shares in the company, valued at approximately $2,063,067.12. This trade represents a 26.15 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 55,765 shares of company stock worth $3,094,694. 12.41% of the stock is currently owned by insiders.

Affirm Price Performance

Shares of AFRM stock opened at $51.00 on Wednesday. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month 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 business has a fifty day simple moving average of $47.03 and a 200 day simple moving average of $56.55. The company has a market cap of $16.22 billion, a P/E ratio of -78.46 and a beta of 3.66.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.18 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.

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