Compound Planning Inc. Reduces Stake in Affirm Holdings, Inc. $AFRM

Key Points

• Compound Planning Inc. has reduced its stake in Affirm Holdings, Inc. by 11.4%, now holding 57,410 shares valued at approximately $2.59 million.
• Affirm's stock has exhibited a price target decrease, with analysts revising their ratings; the average price target is currently set at $68.74.
• Insider trading activity is notable, with CEO Max R. Levchin selling over 167,000 shares recently, totaling about $13.41 million.

Compound Planning Inc. cut its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 11.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,410 shares of the company's stock after selling 7,386 shares during the quarter. Compound Planning Inc.'s holdings in Affirm were worth $2,594,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of Affirm by 6.7% in the first quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after purchasing an additional 1,457,434 shares in the last quarter. Durable Capital Partners LP grew its position in shares of Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after purchasing an additional 2,888,827 shares in the last quarter. Jericho Capital Asset Management L.P. grew its position in shares of Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock valued at $316,561,000 after purchasing an additional 538,892 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Affirm by 140.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock valued at $205,350,000 after purchasing an additional 2,657,074 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Affirm by 0.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 2,279,218 shares of the company's stock valued at $102,998,000 after purchasing an additional 7,160 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Down 0.5%

AFRM traded down $0.36 during midday trading on Wednesday, reaching $77.59. 6,601,785 shares of the company's stock traded hands, compared to its average volume of 7,123,227. The firm has a fifty day moving average of $69.98 and a two-hundred day moving average of $59.07. The stock has a market capitalization of $25.03 billion, a price-to-earnings ratio of -369.48, a P/E/G ratio of 2.87 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. Affirm Holdings, Inc. has a 52 week low of $30.46 and a 52 week high of $82.53.

Insider Buying and Selling at Affirm

In other news, insider Katherine Adkins sold 59,267 shares of the stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $75.02, for a total value of $4,446,210.34. Following the completion of the transaction, the insider owned 113,400 shares of the company's stock, valued at approximately $8,507,268. This represents a 34.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O'hare sold 77,800 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $80.09, for a total value of $6,231,002.00. The disclosure for this sale can be found here. Insiders have sold a total of 629,715 shares of company stock worth $49,194,321 over the last three months. 11.82% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price target on Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a research report on Monday, May 12th. Needham & Company LLC restated a "hold" rating on shares of Affirm in a research report on Wednesday, July 2nd. Susquehanna boosted their target price on Affirm from $65.00 to $76.00 and gave the stock a "positive" rating in a research report on Wednesday, July 23rd. Bank of America boosted their target price on Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Rothschild & Co Redburn initiated coverage on Affirm in a research report on Friday, August 1st. They set a "neutral" rating and a $74.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $69.74.

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.