Landscape Capital Management L.L.C. Sells 66,367 Shares of Affirm Holdings, Inc. $AFRM

Key Points

• Landscape Capital Management cut its stake in Affirm by 30.3%, selling 66,367 shares in Q3 and retaining 152,451 shares valued at about $11.14 million (roughly 0.7% of its portfolio).
• Major insider selling occurred: CEO Max Levchin sold 666,666 shares on Jan. 5 at an average $80.62 (~$53.7M) and CFO Robert O'Hare sold 36,401 shares (~$2.9M), leaving insiders with about 11.01% ownership (O'Hare's holding fell 96.38%).
• Recent results and sentiment: Affirm beat Q earnings (EPS $0.37 vs. $0.28) with revenue of $1.12B (+29.6% YoY), and analysts hold a consensus "Moderate Buy" rating with an average target of $84.36.

Landscape Capital Management L.L.C. lessened its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 30.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 152,451 shares of the company's stock after selling 66,367 shares during the quarter. Affirm comprises about 0.7% of Landscape Capital Management L.L.C.'s investment portfolio, making the stock its 19th biggest holding. Landscape Capital Management L.L.C.'s holdings in Affirm were worth $11,141,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Yousif Capital Management LLC increased its stake in shares of Affirm by 5.1% in the 3rd quarter. Yousif Capital Management LLC now owns 3,243 shares of the company's stock worth $237,000 after purchasing an additional 158 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Affirm by 13.2% during the third quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company's stock valued at $108,000 after purchasing an additional 171 shares in the last quarter. Assetmark Inc. grew its holdings in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company's stock valued at $25,000 after purchasing an additional 178 shares during the period. GAMMA Investing LLC grew its holdings in Affirm by 4.4% during the third quarter. GAMMA Investing LLC now owns 4,850 shares of the company's stock valued at $354,000 after purchasing an additional 206 shares during the period. Finally, Apollon Wealth Management LLC increased its position in Affirm by 3.5% in the third quarter. Apollon Wealth Management LLC now owns 6,335 shares of the company's stock worth $463,000 after buying an additional 212 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company's stock.

Insider Buying and Selling at Affirm

In related news, CEO Max R. Levchin sold 666,666 shares of the company's stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert O'hare sold 36,401 shares of the firm's stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares of the company's stock, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.01% of the stock is currently owned by insiders.

Affirm Price Performance

Shares of NASDAQ:AFRM traded up $1.88 during trading on Friday, hitting $48.26. 965,977 shares of the company's stock were exchanged, compared to its average volume of 6,753,487. The business's 50-day simple moving average is $61.25 and its 200 day simple moving average is $70.52. The company has a market cap of $16.08 billion, a price-to-earnings ratio of 59.33, a PEG ratio of 1.86 and a beta of 3.61. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.09. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same period in the previous year, the firm earned $0.23 EPS. The firm's revenue was up 29.6% compared to the same quarter last year. As a group, equities analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

AFRM has been the topic of a number of analyst reports. BTIG Research reaffirmed a "neutral" rating on shares of Affirm in a research report on Thursday, February 26th. TD Cowen reissued a "buy" rating on shares of Affirm in a report on Friday, February 6th. Morgan Stanley restated an "overweight" rating on shares of Affirm in a research note on Wednesday, March 4th. UBS Group set a $78.00 price target on shares of Affirm in a report on Friday, February 6th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $85.00 price target on shares of Affirm in a report on Monday, February 9th. Twenty equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat, Affirm currently has a consensus rating of "Moderate Buy" and an average target price of $84.36.

About Affirm

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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