ThornTree Capital Partners LP Has $41.05 Million Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

ThornTree Capital Partners LP decreased its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 5.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 674,081 shares of the company's stock after selling 42,634 shares during the quarter. Affirm accounts for approximately 5.3% of ThornTree Capital Partners LP's holdings, making the stock its 5th biggest holding. ThornTree Capital Partners LP owned 0.21% of Affirm worth $41,052,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Durable Capital Partners LP lifted its holdings in Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Norges Bank bought a new position in shares of Affirm in the fourth quarter valued at approximately $139,949,000. Capital International Investors acquired a new position in Affirm in the fourth quarter worth $100,030,000. Foxhaven Asset Management LP bought a new stake in Affirm during the 4th quarter worth about $80,917,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in Affirm by 1,801.2% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 767,677 shares of the company's stock worth $46,752,000 after acquiring an additional 727,298 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on AFRM. Compass Point upgraded shares of Affirm from a "neutral" rating to a "buy" rating and upped their target price for the stock from $61.00 to $64.00 in a research report on Wednesday, March 19th. Bank of America lifted their target price on Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a research note on Friday, May 9th. UBS Group lowered their target price on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. Seaport Res Ptn upgraded Affirm to a "hold" rating in a research report on Monday, March 24th. Finally, Evercore ISI began coverage on Affirm in a report on Wednesday, April 9th. They issued an "outperform" rating and a $50.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Affirm presently has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Affirm Stock Up 1.6%

AFRM traded up $0.77 during trading on Friday, reaching $49.74. The company had a trading volume of 3,862,843 shares, compared to its average volume of 8,490,741. The company has a market cap of $16.05 billion, a P/E ratio of -76.45 and a beta of 3.66. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The business's fifty day moving average price is $46.74 and its 200 day moving average price is $57.16.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The business had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. The firm's revenue was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.43) EPS. Equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Activity

In other news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the sale, the director now owns 38,997 shares of the company's stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the transaction, the director now owns 61,520 shares of the company's stock, valued at approximately $3,935,434.40. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,765 shares of company stock worth $2,694,694 over the last three months. Corporate insiders own 12.41% of the company's stock.

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.