ThornTree Capital Partners LP Sells 42,634 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

ThornTree Capital Partners LP reduced its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 674,081 shares of the company’s stock after selling 42,634 shares during the period. Affirm accounts for about 5.3% of ThornTree Capital Partners LP’s investment portfolio, making the stock its 5th largest position. ThornTree Capital Partners LP owned about 0.21% of Affirm worth $41,052,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of AFRM. Durable Capital Partners LP lifted its holdings in shares of Affirm by 97.3% during the 4th 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 period. Norges Bank purchased a new position in Affirm in the fourth quarter valued at approximately $139,949,000. Capital International Investors purchased a new position in Affirm in the fourth quarter valued at approximately $100,030,000. Foxhaven Asset Management LP purchased a new position in Affirm in the fourth quarter valued at approximately $80,917,000. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Affirm by 1,801.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 767,677 shares of the company’s stock valued at $46,752,000 after buying an additional 727,298 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, 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 sale, the director now directly owns 38,997 shares in the company, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Rabois sold 16,088 shares of Affirm stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the sale, the director now owns 61,520 shares in the company, valued at approximately $3,935,434.40. This represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,765 shares of company stock valued at $2,694,694. 12.41% of the stock is currently owned by company insiders.

Affirm Stock Performance

Affirm stock opened at $52.57 on Friday. The company has a market cap of $16.72 billion, a PE ratio of -80.88 and a beta of 3.66. The company has a fifty day moving average price of $46.66 and a two-hundred day moving average price of $57.09. 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 Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. 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 previous year, the company posted ($0.43) earnings per share. The company’s revenue for the quarter was up 35.9% compared to the same quarter last year. Research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently commented on the stock. The Goldman Sachs Group raised their price target on shares of Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a report on Monday, May 12th. Royal Bank of Canada lifted their price objective on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Evercore ISI assumed coverage on shares of Affirm in a research note on Wednesday, April 9th. They set an “outperform” rating and a $50.00 price objective on the stock. Bank of America lifted their price objective on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $69.00 price objective on shares of Affirm in a research note on Thursday, March 20th. 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 MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.