Berkshire Capital Holdings Inc. Reduces Stake in Affirm Holdings, Inc. $AFRM

Key Points

• Berkshire Capital Holdings Inc. reduced its stake in Affirm Holdings by 21.3%, now holding 139,520 shares worth approximately $6.3 million.
• Over 69% of Affirm's stock is owned by hedge funds and other institutional investors, indicating strong institutional interest in the company.
• A number of analysts have recently downgraded Affirm, with the consensus rating now at "Moderate Buy" and an average price target of $68.09.

Berkshire Capital Holdings Inc. reduced its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 21.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,520 shares of the company's stock after selling 37,850 shares during the period. Affirm accounts for approximately 3.0% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 18th biggest position. Berkshire Capital Holdings Inc.'s holdings in Affirm were worth $6,305,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. KLP Kapitalforvaltning AS lifted its stake in Affirm by 0.4% in the first quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock valued at $2,219,000 after buying an additional 200 shares during the period. Allworth Financial LP increased its holdings in shares of Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $27,000 after acquiring an additional 219 shares in the last quarter. Sei Investments Co. raised its position in shares of Affirm by 0.6% during the first quarter. Sei Investments Co. now owns 41,066 shares of the company's stock worth $1,856,000 after purchasing an additional 226 shares during the period. HB Wealth Management LLC lifted its holdings 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 in the last quarter. Finally, Amalgamated Bank lifted its holdings in shares of Affirm by 2.1% in the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock worth $622,000 after purchasing an additional 280 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded up $5.3140 during mid-day trading on Friday, reaching $79.8040. The company had a trading volume of 5,154,064 shares, compared to its average volume of 7,036,697. Affirm Holdings, Inc. has a one year low of $30.02 and a one year high of $82.53. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. The company's 50-day moving average price is $68.88 and its 200-day moving average price is $58.83. The firm has a market cap of $25.74 billion, a price-to-earnings ratio of -380.20, a PEG ratio of 2.71 and a beta of 3.63.

Insider Activity

In other Affirm news, COO Michael Linford sold 10,800 shares of the company's stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $80.00, for a total transaction of $864,000.00. Following the sale, the chief operating officer directly owned 109,840 shares of the company's stock, valued at $8,787,200. This represents a 8.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Katherine Adkins sold 59,267 shares of the business's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $75.02, for a total transaction of $4,446,210.34. Following the completion of the sale, the insider directly owned 113,400 shares in the company, valued at approximately $8,507,268. This trade represents a 34.32% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 200,272 shares of company stock worth $14,798,557. 11.82% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on AFRM shares. UBS Group lowered their price objective on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. Stephens began coverage on Affirm in a report on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 target price on the stock. Needham & Company LLC reissued a "hold" rating on shares of Affirm in a research report on Wednesday, July 2nd. Wall Street Zen cut Affirm from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Citigroup reiterated an "overweight" rating on shares of Affirm in a research note on Monday, June 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Affirm has a consensus rating of "Moderate Buy" and an average target price of $68.74.

Affirm 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.