Atreides Management LP Has $54.74 Million Stock Holdings in Affirm Holdings, Inc. $AFRM

Key Points

• Atreides Management reduced its Affirm stake by 13.7% in the first quarter, selling 190,230 shares and retaining 1.19 million shares worth approximately $54.7 million. Institutional investors and hedge funds collectively own 69.29% of Affirm.
• Affirm reported quarterly earnings of $0.30 per share, beating the $0.17 consensus estimate, while revenue rose 32.7% year over year to $943.95 million but fell short of expectations.
• Analysts remain broadly bullish, with Affirm holding a “Moderate Buy” consensus rating and an average price target of $92.74, versus a reported trading price of $72.40.

Atreides Management LP trimmed its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 13.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,711 shares of the company's stock after selling 190,230 shares during the period. Affirm makes up approximately 1.1% of Atreides Management LP's portfolio, making the stock its 25th biggest position. Atreides Management LP owned approximately 0.36% of Affirm worth $54,742,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in AFRM. Norges Bank bought a new stake in shares of Affirm during the fourth quarter valued at approximately $281,961,000. Invesco Ltd. increased its stake in Affirm by 294.2% during the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company's stock valued at $316,706,000 after purchasing an additional 3,234,260 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in Affirm by 11,042.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company's stock valued at $157,004,000 after purchasing an additional 2,141,881 shares in the last quarter. State Street Corp raised its holdings in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company's stock worth $412,315,000 after buying an additional 1,187,665 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Affirm by 154.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,697,500 shares of the company's stock worth $126,346,000 after buying an additional 1,029,646 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the stock in a transaction dated Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares in the company, valued at approximately $2,344,940. This represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the firm's stock in a transaction dated Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company's stock, valued at $9,443,439.36. This trade represents a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by insiders.

Affirm Trading Down 0.9%

NASDAQ:AFRM opened at $72.40 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. The firm has a market cap of $24.25 billion, a price-to-earnings ratio of 65.82, a price-to-earnings-growth ratio of 2.98 and a beta of 3.67. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The firm has a 50-day moving average price of $74.24 and a two-hundred day moving average price of $63.50.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the previous year, the business earned $0.01 EPS. The company's revenue was up 32.7% compared to the same quarter last year. On average, equities analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on AFRM shares. Morgan Stanley set a $79.00 target price on shares of Affirm and gave the stock an "overweight" rating in a report on Sunday, May 10th. The Goldman Sachs Group boosted their price objective on Affirm from $90.00 to $106.00 and gave the stock a "buy" rating in a report on Thursday, July 9th. Bank of America increased their price objective on Affirm from $82.00 to $88.00 and gave the stock a "buy" rating in a research note on Monday, May 11th. TD Cowen raised their target price on Affirm from $90.00 to $117.00 and gave the company a "buy" rating in a report on Tuesday, July 7th. Finally, Needham & Company LLC lifted their target price on Affirm from $85.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, May 8th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $92.74.

Affirm 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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