Quantinno Capital Management LP Boosts Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Quantinno Capital Management LP raised its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 34.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 121,113 shares of the company’s stock after acquiring an additional 30,944 shares during the quarter. Quantinno Capital Management LP’s holdings in Affirm were worth $7,376,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Capital Research Global Investors raised its holdings in shares of Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after acquiring an additional 470,409 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Affirm by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after acquiring an additional 716,574 shares during the last quarter. Capital World Investors raised its holdings in shares of Affirm by 0.4% in the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after acquiring an additional 72,582 shares during the last quarter. Durable Capital Partners LP raised its holdings in shares of Affirm by 97.3% in the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after acquiring an additional 2,888,827 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. raised its holdings in shares of Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after acquiring an additional 538,892 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AFRM shares. JPMorgan Chase & Co. cut their price target on Affirm from $74.00 to $69.00 and set an “overweight” rating for the company in a report on Friday, May 9th. Royal Bank of Canada upped their target price on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. The Goldman Sachs Group upped their target price on Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley dropped their target price on Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, JMP Securities dropped their target price on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research note on Friday, May 9th. Seven investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average price target of $65.05.

Insider Transactions at Affirm

In related news, Director Noel Bertram Watson sold 2,500 shares of the 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the transaction, the director now directly owns 61,520 shares of the company’s stock, valued at $3,935,434.40. This represents a 20.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,765 shares of company stock valued at $2,694,694 over the last quarter. Company insiders own 12.41% of the company’s stock.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $51.75 on Friday. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53. The business has a 50-day moving average of $46.54 and a 200-day moving average of $56.94. 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 company has a market capitalization of $16.46 billion, a price-to-earnings ratio of -79.62 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $782.98 million. During the same quarter in the prior year, the business earned ($0.43) earnings per share. The company’s revenue was up 35.9% compared to the same quarter last year. On average, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

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.