1832 Asset Management L.P. Sells 58,600 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• 1832 Asset Management L.P. has reduced its stake in Affirm Holdings, Inc. by 4.8%, holding approximately 1,156,900 shares valued at $52.28 million as of its latest SEC filing.
• The stock of Affirm Holdings, Inc. has seen a rise of 6.7%, opening at $79.49, with a market capitalization of $25.64 billion and significant fluctuations in its 52-week range.
• Analysts have mixed views on Affirm, with a consensus rating of "Moderate Buy" and target prices varying from $56.00 to $80.00, indicating a blend of optimism and caution regarding the stock's future performance.

1832 Asset Management L.P. lessened its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 4.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,156,900 shares of the company's stock after selling 58,600 shares during the quarter. 1832 Asset Management L.P. owned approximately 0.36% of Affirm worth $52,280,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock worth $1,051,707,000 after acquiring an additional 1,457,434 shares during the last quarter. Durable Capital Partners LP raised its position in shares of Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after purchasing an additional 2,888,827 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock valued at $316,561,000 after purchasing an additional 538,892 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Affirm by 140.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock valued at $205,350,000 after purchasing an additional 2,657,074 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Affirm by 0.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,279,218 shares of the company's stock valued at $102,998,000 after purchasing an additional 7,160 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

Analysts Set New Price Targets

AFRM has been the topic of several research analyst reports. Barclays boosted their price objective on Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a research report on Monday, June 30th. UBS Group cut their target price on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Jefferies Financial Group increased their target price on Affirm from $82.00 to $95.00 and gave the stock a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Affirm from $69.00 to $84.00 and gave the company an "overweight" rating in a report on Tuesday, August 19th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Affirm in a report on Wednesday, July 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $69.74.

Affirm Price Performance

NASDAQ AFRM traded down $0.36 on Wednesday, reaching $77.59. The company had a trading volume of 6,601,785 shares, compared to its average volume of 7,123,227. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $25.03 billion, a PE ratio of -369.48, a price-to-earnings-growth ratio of 2.87 and a beta of 3.63. The firm's 50 day moving average price is $69.98 and its 200 day moving average price is $59.07. Affirm Holdings, Inc. has a 12 month low of $30.46 and a 12 month high of $82.53.

Insider Transactions at Affirm

In other news, CEO Max R. Levchin sold 167,443 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $80.10, for a total value of $13,412,184.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Katherine Adkins sold 6,489 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $75.00, for a total transaction of $486,675.00. Following the completion of the transaction, the insider directly owned 113,400 shares of the company's stock, valued at approximately $8,505,000. The trade was a 5.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 629,715 shares of company stock worth $49,194,321. 11.82% of the stock is currently owned by corporate insiders.

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.