Atreides Management LP Makes New Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Atreides Management LP acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 499,858 shares of the company’s stock, valued at approximately $20,404,000. Atreides Management LP owned 0.16% of Affirm at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of AFRM. Dragoneer Investment Group LLC acquired a new stake in shares of Affirm in the 2nd quarter valued at $45,219,000. Artemis Investment Management LLP acquired a new stake in shares of Affirm in the 3rd quarter valued at $30,808,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after purchasing an additional 528,400 shares in the last quarter. Finally, Spyglass Capital Management LLC boosted its holdings in shares of Affirm by 9.3% in the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Activity

In other news, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.00, for a total value of $5,551,590.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, President Libor Michalek sold 100,000 shares of the business’s stock in a transaction dated 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 completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 868,253 shares of company stock valued at $52,186,668 in the last ninety days. 12.41% of the stock is owned by company insiders.

Affirm Stock Up 2.4 %

Shares of NASDAQ:AFRM opened at $70.01 on Monday. The firm has a market cap of $21.99 billion, a P/E ratio of -49.30 and a beta of 3.47. 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 $70.88. The business has a fifty day simple moving average of $49.29 and a 200 day simple moving average of $37.98.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping 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 business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. During the same period last year, the company earned ($0.57) EPS. Analysts predict that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Wells Fargo & Company raised their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Susquehanna raised their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. Barclays raised their price objective on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $25.00 to $45.00 in a report on Monday, October 14th. Finally, Mizuho raised their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Affirm presently has a consensus rating of “Hold” and an average price target of $52.53.

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.