Spyglass Capital Management LLC Decreases Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Spyglass Capital Management LLC lessened its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,702,004 shares of the company's stock after selling 646,091 shares during the quarter. Affirm comprises 5.8% of Spyglass Capital Management LLC's investment portfolio, making the stock its biggest holding. Spyglass Capital Management LLC owned about 0.54% of Affirm worth $103,652,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. purchased a new stake in Affirm in the 4th quarter valued at about $28,000. Geneos Wealth Management Inc. increased its stake in Affirm by 356.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company's stock valued at $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new stake in Affirm in the 4th quarter valued at about $33,000. Coppell Advisory Solutions LLC purchased a new stake in Affirm in the 4th quarter valued at about $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Affirm in the 4th quarter valued at about $43,000. Institutional investors own 69.29% of the company's stock.

Affirm Stock Up 3.7%

AFRM traded up $1.73 during midday trading on Thursday, reaching $48.97. The company's stock had a trading volume of 5,362,229 shares, compared to its average volume of 8,508,329. The firm has a market capitalization of $15.80 billion, a price-to-earnings ratio of -75.34 and a beta of 3.66. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The stock's 50-day moving average is $46.72 and its 200-day moving average is $57.12.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts' consensus estimates 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 firm had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. During the same quarter in the prior year, the company posted ($0.43) earnings per share. The business's revenue for the quarter was up 35.9% on a year-over-year basis. As a group, research analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Activity

In related news, Director Noel Bertram Watson sold 2,500 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now owns 38,997 shares in the company, valued at approximately $1,785,282.66. This trade represents a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,089 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the completion of the transaction, the director now owns 29,343 shares in the company, valued at $1,496,493. The trade was a 35.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,765 shares of company stock worth $2,694,694 over the last 90 days. 12.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "hold" rating on shares of Affirm in a research note on Friday, February 7th. 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 research note on Friday, May 9th. Susquehanna upgraded shares of Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price target for the company in a research note on Friday, May 9th. TD Cowen assumed coverage on shares of Affirm in a research note on Tuesday, April 8th. They set a "buy" rating and a $50.00 price target for the company. Finally, UBS Group decreased their price target on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Seven research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $65.05.

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.