Townsquare Capital LLC Boosts Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Townsquare Capital LLC increased its stake in Affirm Holdings by 26.2%, owning 141,756 shares worth approximately $6.4 million after acquiring an additional 29,434 shares.
• Affirm's stock traded down by 8.4%, with a 12-month range between a low of $24.67 and a high of $82.53, and it currently has a market cap of $23.33 billion.
• Analysts have mixed views on Affirm, with several firms adjusting price targets; currently, the consensus rating is a "Moderate Buy" with an average price target of $68.09.

Townsquare Capital LLC grew its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 26.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 141,756 shares of the company's stock after purchasing an additional 29,434 shares during the period. Townsquare Capital LLC's holdings in Affirm were worth $6,406,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. KLP Kapitalforvaltning AS boosted its position in shares of Affirm by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock worth $2,219,000 after purchasing an additional 200 shares in the last quarter. Allworth Financial LP boosted its position in shares of Affirm by 63.7% during the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares in the last quarter. HB Wealth Management LLC boosted its position in shares of Affirm by 2.2% during the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock worth $518,000 after purchasing an additional 252 shares in the last quarter. Amalgamated Bank boosted its position in shares of Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock worth $622,000 after purchasing an additional 280 shares in the last quarter. Finally, M&T Bank Corp boosted its position in shares of Affirm by 1.9% during the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company's stock worth $968,000 after purchasing an additional 389 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Down 8.4%

NASDAQ AFRM opened at $72.33 on Friday. Affirm Holdings, Inc. has a 12 month low of $24.67 and a 12 month high of $82.53. The company has a 50-day moving average of $65.69 and a 200-day moving average of $57.74. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The company has a market cap of $23.33 billion, a P/E ratio of -344.43, a P/E/G ratio of 2.68 and a beta of 3.63.

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 analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The company had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. During the same quarter in the prior year, the company posted ($0.43) EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other news, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Siphelele Jiyane sold 15,871 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total value of $1,190,325.00. Following the sale, the chief accounting officer owned 242,192 shares of the company's stock, valued at $18,164,400. The trade was a 6.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,114 shares of company stock worth $11,825,169. Company insiders own 11.82% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Oppenheimer set a $80.00 target price on shares of Affirm and gave the stock an "outperform" rating in a research report on Monday, July 21st. UBS Group cut their price target on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research note on Friday, May 9th. BTIG Research downgraded Affirm from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Barclays lifted their price target on Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Affirm in a research note on Thursday, July 17th. They set a "buy" rating and a $78.00 price target for the company. Ten equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.09.

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.

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