Affirm Holdings, Inc. $AFRM Shares Purchased by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. increased its stake in Affirm Holdings, Inc. by 53.1% in Q1, acquiring an additional 3,457 shares, bringing its total holdings to nearly 10,000 shares valued at approximately $450,000.
• Institutional investors own 69.29% of Affirm's stock, with a significant investment increase from Mirae Asset Global Investments, which raised its holdings by over 2,800% during the same quarter.
• Insider selling activity was notable, with insider Katherine Adkins selling over 59,000 shares and a total of 163,114 shares sold by corporate insiders in the past 90 days.

Fox Run Management L.L.C. boosted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 53.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,964 shares of the company's stock after acquiring an additional 3,457 shares during the quarter. Fox Run Management L.L.C.'s holdings in Affirm were worth $450,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the business. Sei Investments Co. raised its position in Affirm by 0.6% in the first quarter. Sei Investments Co. now owns 41,066 shares of the company's stock worth $1,856,000 after acquiring an additional 226 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Affirm by 1,137.5% in the first quarter. Lord Abbett & CO. LLC now owns 1,282,663 shares of the company's stock worth $57,964,000 after acquiring an additional 1,179,016 shares in the last quarter. Independent Advisor Alliance raised its position in Affirm by 3.6% in the first quarter. Independent Advisor Alliance now owns 18,681 shares of the company's stock worth $844,000 after acquiring an additional 657 shares in the last quarter. Nuveen LLC acquired a new stake in Affirm in the first quarter valued at $27,061,000. Finally, Virtu Financial LLC acquired a new stake in Affirm in the first quarter valued at $659,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Price Performance

Shares of AFRM traded up $5.00 during trading hours on Friday, reaching $79.49. 8,379,774 shares of the company traded hands, compared to its average volume of 5,149,236. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a market capitalization of $25.64 billion, a PE ratio of -378.52, a price-to-earnings-growth ratio of 2.95 and a beta of 3.63. Affirm Holdings, Inc. has a fifty-two week low of $30.02 and a fifty-two week high of $82.53. The stock has a fifty day simple moving average of $69.28 and a 200 day simple moving average of $58.94.

Insider Buying and Selling at Affirm

In related news, insider Katherine Adkins sold 6,489 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $75.00, for a total transaction of $486,675.00. Following the sale, the insider owned 113,400 shares of the company's stock, valued at $8,505,000. This trade represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Michael Linford sold 184,200 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $80.09, for a total value of $14,752,578.00. Following the completion of the sale, the chief operating officer directly owned 109,840 shares in the company, valued at approximately $8,797,085.60. The trade was a 62.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 629,715 shares of company stock valued at $49,194,321. 11.82% of the stock is owned by company insiders.

Analysts Set New Price Targets

AFRM has been the topic of several research reports. Morgan Stanley lowered their target price on Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. UBS Group lowered their target price on Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a report on Friday, May 9th. BTIG Research lowered Affirm from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Bank of America upped their target price on Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen lowered Affirm from a "buy" rating to a "hold" rating in a report on Sunday, August 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $68.74.

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.