Y Intercept Hong Kong Ltd Invests $1.62 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

Y Intercept Hong Kong Ltd acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 39,638 shares of the company’s stock, valued at approximately $1,618,000.

A number of other hedge funds also recently made changes to their positions in the stock. Spyglass Capital Management LLC raised its position in shares of Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Affirm during the second quarter worth about $45,219,000. Bank of New York Mellon Corp raised its position in shares of Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in Affirm in the third quarter worth approximately $30,808,000. 69.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Affirm news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now directly owns 159,449 shares in the company, valued at $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 985,065 shares of company stock valued at $60,544,069. Insiders own 12.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Susquehanna lifted their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a report on Friday, October 4th. Mizuho lifted their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Bank of America lifted their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $55.33.

Affirm Stock Down 3.6 %

Shares of NASDAQ:AFRM opened at $66.32 on Wednesday. The stock has a market cap of $20.83 billion, a price-to-earnings ratio of -46.70 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $72.82. The business’s 50 day moving average is $53.13 and its 200 day moving average is $39.89.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. On average, sell-side analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share 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.