Wealthedge Investment Advisors LLC Makes New Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Wealthedge Investment Advisors LLC purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 7,689 shares of the company's stock, valued at approximately $468,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Durable Capital Partners LP raised its holdings in Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after acquiring an additional 2,888,827 shares during the period. Norges Bank bought a new position in Affirm in the 4th quarter worth $139,949,000. Capital International Investors bought a new position in Affirm in the 4th quarter worth $100,030,000. Foxhaven Asset Management LP bought a new position in Affirm in the 4th quarter worth $80,917,000. Finally, Voloridge Investment Management LLC bought a new position in Affirm in the 4th quarter worth $76,738,000. Institutional investors own 69.29% of the company's stock.

Insider Activity at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, March 17th. The shares were 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 of the company's stock, valued at $1,785,282.66. This trade represents a 6.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the transaction, the director now directly owns 61,520 shares of the company's stock, valued at $3,935,434.40. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,765 shares of company stock valued at $2,694,694 in the last ninety days. Insiders own 11.82% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on AFRM shares. Seaport Res Ptn upgraded shares of Affirm to a "hold" rating in a report on Monday, March 24th. Royal Bank of Canada lifted their target price on shares of Affirm from $67.00 to $81.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. JMP Securities dropped their target price on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating on the stock in a report on Friday, May 9th. TD Cowen initiated coverage on shares of Affirm in a report on Tuesday, April 8th. They issued a "buy" rating and a $50.00 target price on the stock. Finally, Susquehanna upgraded shares of Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price target on the stock in a research report on Friday, May 9th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Price Performance

Shares of Affirm stock traded down $0.19 during trading on Friday, hitting $51.86. 3,725,005 shares of the company's stock traded hands, compared to its average volume of 8,529,440. 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 firm's fifty day moving average price is $46.95 and its 200 day moving average price is $57.19. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The company has a market cap of $16.73 billion, a PE ratio of -79.78 and a beta of 3.66.

Affirm (NASDAQ:AFRM - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $782.98 million. During the same period in the previous year, the business earned ($0.43) EPS. The firm's revenue was up 35.9% on a year-over-year basis. Analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current 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.