Voloridge Investment Management LLC Purchases Shares of 1,260,067 Affirm Holdings, Inc. (NASDAQ:AFRM)

Voloridge Investment Management LLC purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,260,067 shares of the company's stock, valued at approximately $76,738,000. Voloridge Investment Management LLC owned about 0.40% of Affirm at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of AFRM. Durable Capital Partners LP raised its position 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 purchased a new position in shares of Affirm during the 4th quarter worth approximately $139,949,000. Capital International Investors purchased a new position in shares of Affirm during the 4th quarter worth approximately $100,030,000. Foxhaven Asset Management LP purchased a new position in shares of Affirm during the 4th quarter worth approximately $80,917,000. Finally, Gilder Gagnon Howe & Co. LLC grew its holdings in shares of 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 period. Institutional investors own 69.29% of the company's stock.

Affirm Trading Down 1.6%

AFRM opened at $51.71 on Tuesday. The firm has a market cap of $16.68 billion, a P/E ratio of -79.55 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 current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The stock has a 50-day moving average of $46.72 and a 200 day moving average of $57.24.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The firm's revenue was up 35.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.43) earnings per share. As a group, research analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction dated Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the transaction, the director now owns 29,343 shares in the company, valued at approximately $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the transaction, the director now owns 38,997 shares of the company's stock, valued at approximately $1,785,282.66. This represents a 6.02% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,765 shares of company stock worth $2,694,694. Corporate insiders own 12.41% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on AFRM. Bank of America upped their target price on Affirm from $76.00 to $80.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley reduced their target price on Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Royal Bank of Canada upped their target price on Affirm from $67.00 to $81.00 and gave the stock a "sector perform" rating in a report on Friday, February 7th. Seaport Res Ptn upgraded Affirm to a "hold" rating in a report on Monday, March 24th. Finally, Barclays upped their target price on Affirm from $45.00 to $53.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $65.05.

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.

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