Lecap Asset Management Ltd. Sells 18,273 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Lecap Asset Management Ltd. trimmed its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 62.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,874 shares of the company's stock after selling 18,273 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Affirm were worth $491,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Integris Wealth Management LLC increased its position in Affirm by 43.6% during the first quarter. Integris Wealth Management LLC now owns 17,681 shares of the company's stock worth $799,000 after buying an additional 5,371 shares during the last quarter. Oppenheimer Asset Management Inc. increased its position in Affirm by 15.6% during the first quarter. Oppenheimer Asset Management Inc. now owns 22,220 shares of the company's stock worth $1,004,000 after buying an additional 3,004 shares during the last quarter. Pursue Wealth Partners LLC acquired a new position in Affirm during the first quarter worth $235,000. Envestnet Portfolio Solutions Inc. acquired a new position in Affirm during the first quarter worth $549,000. Finally, Institute for Wealth Management LLC. increased its position in Affirm by 16.4% during the first quarter. Institute for Wealth Management LLC. now owns 7,856 shares of the company's stock worth $355,000 after buying an additional 1,105 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Keith Rabois sold 16,089 shares of the company's stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the sale, the director now directly owns 29,343 shares in the company, valued at approximately $1,496,493. This represents a 35.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the sale, the director now owns 36,497 shares in the company, valued at approximately $2,221,207.42. This represents a 6.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,677 shares of company stock worth $1,703,245. Company insiders own 11.82% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on AFRM shares. Morgan Stanley lowered their target price on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Bank of America upped their price target on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a report on Friday, May 9th. Susquehanna upgraded shares of Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price target for the company in a report on Friday, May 9th. BMO Capital Markets restated an "outperform" rating and set a $69.00 price target on shares of Affirm in a report on Thursday, March 20th. Finally, Royal Bank Of Canada restated a "sector perform" rating and set a $70.00 price target on shares of Affirm in a report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Stock Performance

Affirm stock traded up $1.16 during trading hours on Friday, hitting $68.06. The stock had a trading volume of 12,476,817 shares, compared to its average volume of 8,399,805. The company has a 50-day moving average of $53.96 and a two-hundred day moving average of $56.47. 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 company has a market cap of $21.96 billion, a PE ratio of -324.10, a price-to-earnings-growth ratio of 55.38 and a beta of 3.58. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $82.53.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The firm had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.43) EPS. On average, equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

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.