Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Bought by Evolutionary Tree Capital Management LLC

Key Points

• Evolutionary Tree Capital Management LLC increased its stake in Affirm Holdings by 19.6% during Q1, now holding 44,200 shares valued at approximately $1.997 million.
• Affirm reported a quarterly earnings surprise, posting earnings per share of $0.01, beating analysts' expectations of ($0.09) and achieving 35.9% revenue growth compared to the prior year.
• The stock has experienced fluctuations with a recent price opening at $66.41, a 52-week range from $22.25 to $82.53, and institutional investors now owning 69.29% of the shares.

Evolutionary Tree Capital Management LLC lifted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 19.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,200 shares of the company's stock after purchasing an additional 7,237 shares during the period. Affirm comprises 2.3% of Evolutionary Tree Capital Management LLC's holdings, making the stock its 21st biggest holding. Evolutionary Tree Capital Management LLC's holdings in Affirm were worth $1,997,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. KLP Kapitalforvaltning AS grew its stake in shares of Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock worth $2,219,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP grew its stake in shares of Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Affirm by 2.2% in the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock worth $518,000 after purchasing an additional 252 shares during the last quarter. Amalgamated Bank increased its position in shares of Affirm by 2.1% in the first quarter. Amalgamated Bank now owns 13,773 shares of the company's stock worth $622,000 after acquiring an additional 280 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Affirm by 1.9% in the first quarter. M&T Bank Corp now owns 21,416 shares of the company's stock worth $968,000 after acquiring an additional 389 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Stock Down 3.1%

Affirm stock opened at $66.41 on Monday. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The firm has a 50 day moving average price of $63.23 and a two-hundred day moving average price of $57.10. The firm has a market cap of $21.42 billion, a price-to-earnings ratio of -316.24, a PEG ratio of 2.46 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. The firm had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The business's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.43) earnings per share. Equities analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

AFRM has been the topic of several analyst reports. Barclays lifted their target price on shares of Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. JPMorgan Chase & Co. decreased their price target on shares of Affirm from $74.00 to $69.00 and set an "overweight" rating for the company in a report on Friday, May 9th. Needham & Company LLC restated a "hold" rating on shares of Affirm in a report on Wednesday, July 2nd. Oppenheimer set a $80.00 price target on shares of Affirm and gave the stock an "outperform" rating in a report on Monday, July 21st. Finally, Royal Bank Of Canada raised their price target on shares of Affirm from $70.00 to $75.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 8th. Eleven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $68.09.

Insider Activity

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares in the company, valued at $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert O'hare sold 19,802 shares of Affirm stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $70.03, for a total transaction of $1,386,734.06. The disclosure for this sale can be found here. Insiders have sold a total of 80,158 shares of company stock valued at $5,602,284 over the last ninety days. 11.82% of the stock is owned by insiders.

About Affirm

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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