Quantbot Technologies LP Raises Holdings in Affirm Holdings, Inc. $AFRM

Key Points

• Quantbot Technologies LP significantly increased its stake in Affirm Holdings, Inc. by 148.2%, owning 78,110 shares worth approximately $3.53 million as of the end of the first quarter.
• Several other institutional investors, including KLP Kapitalforvaltning AS and Allworth Financial LP, also raised their holdings in Affirm, with institutional ownership now at 69.29%.
• Affirm's stock is currently rated as a Moderate Buy by analysts, with a consensus price target set at $68.74, following various upgrades and downgrades from different research firms.

Quantbot Technologies LP boosted its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 148.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,110 shares of the company's stock after purchasing an additional 46,645 shares during the quarter. Quantbot Technologies LP's holdings in Affirm were worth $3,530,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Affirm during the fourth quarter worth approximately $28,000. Allworth Financial LP grew its holdings in Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after acquiring an additional 219 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in shares of Affirm in the 4th quarter valued at approximately $40,000. CoreCap Advisors LLC increased its position in shares of Affirm by 11,810.0% in the 4th quarter. CoreCap Advisors LLC now owns 1,191 shares of the company's stock valued at $73,000 after purchasing an additional 1,181 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. raised its holdings in shares of Affirm by 3,637.8% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,383 shares of the company's stock valued at $62,000 after purchasing an additional 1,346 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on AFRM. Zacks Research downgraded shares of Affirm from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 13th. Redburn Atlantic raised Affirm to a "hold" rating in a research report on Friday, August 1st. Truist Financial raised their target price on Affirm from $58.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. JPMorgan Chase & Co. boosted their target price on Affirm from $69.00 to $84.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 19th. Finally, Stephens began coverage on shares of Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat, Affirm currently has a consensus rating of "Moderate Buy" and an average target price of $68.74.

Insiders Place Their Bets

In related news, CFO Robert O'hare sold 77,800 shares of the stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $80.09, for a total transaction of $6,231,002.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Michael Linford sold 184,200 shares of Affirm stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $80.09, for a total transaction of $14,752,578.00. Following the completion of the transaction, the chief operating officer owned 109,840 shares in the company, valued at approximately $8,797,085.60. This represents a 62.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 629,715 shares of company stock worth $49,194,321. Corporate insiders own 11.82% of the company's stock.

Affirm Stock Performance

AFRM traded up $5.00 during trading on Friday, hitting $79.49. 8,379,774 shares of the stock were exchanged, 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. Affirm Holdings, Inc. has a 1-year low of $30.02 and a 1-year high of $82.53. The stock has a fifty day moving average price of $69.28 and a two-hundred day moving average price of $58.94. The firm has a market capitalization of $25.64 billion, a P/E ratio of -378.52, a PEG ratio of 2.95 and a beta of 3.63.

Affirm Company 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.