Man Group plc Decreases Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Man Group plc lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 55.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 528,620 shares of the company's stock after selling 652,241 shares during the quarter. Man Group plc owned about 0.17% of Affirm worth $32,193,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. SeaCrest Wealth Management LLC acquired a new stake in Affirm in the fourth quarter valued at approximately $387,000. Omega Financial Group LLC boosted its stake in shares of Affirm by 5.0% in the fourth quarter. Omega Financial Group LLC now owns 103,027 shares of the company's stock valued at $6,274,000 after purchasing an additional 4,871 shares during the period. Hanseatic Management Services Inc. boosted its stake in shares of Affirm by 12.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company's stock valued at $109,000 after purchasing an additional 194 shares during the period. Kera Capital Partners Inc. acquired a new stake in Affirm during the 4th quarter valued at $647,000. Finally, Artemis Investment Management LLP increased its stake in Affirm by 2.1% during the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company's stock worth $46,908,000 after buying an additional 15,517 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Performance

Shares of AFRM stock opened at $51.75 on Friday. The company has a market cap of $16.46 billion, a P/E ratio of -79.62 and a beta of 3.66. The business has a 50 day moving average of $46.54 and a two-hundred day moving average of $56.94. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Compass Point upgraded shares of Affirm from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. Seaport Res Ptn upgraded Affirm to a "hold" rating in a research note on Monday, March 24th. Evercore ISI began coverage on Affirm in a research note on Wednesday, April 9th. They set an "outperform" rating and a $50.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Affirm from $74.00 to $69.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Affirm in a research report on Friday, February 7th. Seven investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Affirm currently has an average rating of "Moderate Buy" and a consensus target price of $65.05.

Insider Buying and Selling at Affirm

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

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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