Readystate Asset Management LP Takes $2.04 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Readystate Asset Management LP bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 45,161 shares of the company's stock, valued at approximately $2,041,000.

A number of other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors raised its stake in shares of Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company's stock worth $1,477,747,000 after acquiring an additional 470,409 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company's stock worth $1,328,568,000 after buying an additional 716,574 shares during the period. Capital World Investors grew its position in shares of Affirm by 0.4% during the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company's stock worth $1,116,861,000 after buying an additional 72,582 shares during the period. Durable Capital Partners LP grew its position in shares of Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after buying an additional 2,888,827 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its position in shares of Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock worth $316,561,000 after buying an additional 538,892 shares during the period. 69.29% of the stock is owned by institutional investors.

Affirm Stock Up 0.3%

Shares of AFRM stock traded up $0.18 during trading on Thursday, reaching $65.82. The company's stock had a trading volume of 3,079,360 shares, compared to its average volume of 7,324,576. The business has a fifty day moving average price of $60.84 and a 200-day moving average price of $56.69. 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 $21.23 billion, a price-to-earnings ratio of -313.43, a price-to-earnings-growth ratio of 2.47 and a beta of 3.63. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The firm's revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.43) earnings per share. Analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, insider Katherine Adkins sold 57,102 shares of the company's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $70.27, for a total transaction of $4,012,557.54. Following the sale, the insider directly owned 112,467 shares of the company's stock, valued at approximately $7,903,056.09. This represents a 33.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Christa S. Quarles sold 754 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total transaction of $50,842.22. Following the sale, the director directly owned 137,241 shares in the company, valued at $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 96,247 shares of company stock valued at $6,422,823 over the last 90 days. 11.82% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group lifted their price target on shares of Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a research report on Monday, May 12th. BTIG Research cut shares of Affirm from a "buy" rating to a "neutral" rating in a research report on Monday, July 14th. Citigroup reiterated an "overweight" rating on shares of Affirm in a research report on Monday, June 30th. Stephens assumed coverage on shares of Affirm in a research report on Thursday, June 12th. They set an "equal weight" rating and a $69.00 price target for the company. Finally, UBS Group lowered their price target on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.82.

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.