Affirm Holdings, Inc. $AFRM Shares Sold by Aquatic Capital Management LLC

Key Points

• Aquatic Capital Management LLC reduced its stake in Affirm by 65.8% in Q3, selling 286,319 shares and retaining 148,988 shares valued at about $10.89 million.
• Insiders executed large January sales — CEO Max Levchin sold 666,666 shares (~$53.75M) and CFO Robert O'Hare sold 36,401 shares (~$2.91M) — leaving insiders with 11.01% ownership.
• Affirm beat the latest quarter with $0.37 EPS (vs. $0.28 est.) and $1.12B revenue (+29.6% YoY), but analysts still forecast a full-year EPS of -0.18 and maintain a consensus Moderate Buy price target of $84.36.

Aquatic Capital Management LLC decreased its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 65.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 148,988 shares of the company's stock after selling 286,319 shares during the quarter. Aquatic Capital Management LLC's holdings in Affirm were worth $10,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in AFRM. Invesco Ltd. grew its stake in Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company's stock worth $316,706,000 after buying an additional 3,234,260 shares during the last quarter. Norges Bank purchased a new stake in Affirm in the second quarter valued at approximately $183,475,000. Atreides Management LP boosted its holdings in shares of Affirm by 543.3% in the second quarter. Atreides Management LP now owns 1,977,882 shares of the company's stock valued at $136,751,000 after acquiring an additional 1,670,429 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Affirm by 4.0% in the second quarter. Vanguard Group Inc. now owns 24,195,810 shares of the company's stock valued at $1,672,898,000 after acquiring an additional 922,813 shares during the period. Finally, Alliancebernstein L.P. grew its position in shares of Affirm by 333.5% during the third quarter. Alliancebernstein L.P. now owns 1,166,370 shares of the company's stock worth $85,238,000 after acquiring an additional 897,340 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Stock Performance

NASDAQ:AFRM opened at $46.88 on Monday. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. The firm has a market cap of $15.62 billion, a price-to-earnings ratio of 57.88, a price-to-earnings-growth ratio of 1.72 and a beta of 3.61. The firm's fifty day moving average price is $60.71 and its 200 day moving average price is $70.20. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The company had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.06 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. Affirm's quarterly revenue was up 29.6% on a year-over-year basis. On average, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Transactions at Affirm

In other Affirm news, CFO Robert O'hare sold 36,401 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the sale, the chief financial officer owned 1,368 shares of the company's stock, valued at approximately $109,440. The trade was a 96.38% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of the business's stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 11.01% of the company's stock.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent research reports. Oppenheimer cut their target price on shares of Affirm from $95.00 to $83.00 and set an "outperform" rating on the stock in a report on Friday, February 6th. Robert W. Baird assumed coverage on shares of Affirm in a research note on Thursday, February 19th. They set a "neutral" rating and a $55.00 price target for the company. Weiss Ratings restated a "hold (c-)" rating on shares of Affirm in a research note on Monday, December 29th. UBS Group set a $78.00 target price on shares of Affirm in a report on Friday, February 6th. Finally, Royal Bank Of Canada decreased their target price on shares of Affirm from $87.00 to $77.00 and set a "sector perform" rating for the company in a research note on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Affirm presently has an average rating of "Moderate Buy" and a consensus target price of $84.36.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.

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