20,000 Shares in Affirm Holdings, Inc. (NASDAQ:AFRM) Acquired by Fortress Investment Group LLC

Fortress Investment Group LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 20,000 shares of the company’s stock, valued at approximately $1,218,000. Affirm makes up approximately 0.2% of Fortress Investment Group LLC’s investment portfolio, making the stock its 14th biggest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Affirm in the 4th quarter valued at $28,000. Geneos Wealth Management Inc. boosted its stake in Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 410 shares in the last quarter. R Squared Ltd purchased a new position in shares of Affirm during the fourth quarter worth about $33,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Affirm during the fourth quarter worth about $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in shares of Affirm in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the sale, the director now owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. This represents a 26.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the 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 in the company, valued at approximately $1,785,282.66. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 55,765 shares of company stock worth $3,094,694. Insiders own 12.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on AFRM. Barclays lifted their price target on Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Bank of America upped their price target on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada raised their price objective on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. The Goldman Sachs Group decreased their target price on shares of Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Finally, Morgan Stanley dropped their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday. 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 stock. According to data from MarketBeat, Affirm has a consensus rating of “Moderate Buy” and an average target price of $66.63.

Affirm Stock Performance

AFRM opened at $46.44 on Friday. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53. The stock has a market cap of $14.77 billion, a P/E ratio of -71.45 and a beta of 3.66. The stock’s 50 day simple moving average is $46.42 and its 200 day simple moving average is $56.60. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The company had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same quarter in the prior year, the company earned ($0.43) earnings per share. Affirm’s revenue was up 35.9% compared to the same quarter last year. As a group, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

About Affirm

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.