Ardmore Road Asset Management LP Has $34.57 Million Position in Affirm Holdings, Inc. $AFRM

Ardmore Road Asset Management LP trimmed its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 16.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company’s stock after selling 100,000 shares during the period. Affirm comprises about 2.9% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 14th largest holding. Ardmore Road Asset Management LP’s holdings in Affirm were worth $34,570,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its position in Affirm by 12.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 9,633 shares of the company’s stock worth $435,000 after acquiring an additional 1,090 shares during the last quarter. Atria Wealth Solutions Inc. lifted its position in Affirm by 115.3% during the first quarter. Atria Wealth Solutions Inc. now owns 7,910 shares of the company’s stock worth $357,000 after acquiring an additional 4,236 shares during the last quarter. Vanguard Group Inc. increased its position in Affirm by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock worth $1,051,707,000 after buying an additional 1,457,434 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Affirm by 0.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,279,218 shares of the company’s stock valued at $102,998,000 after purchasing an additional 7,160 shares during the period. Finally, Deutsche Bank AG increased its stake in Affirm by 1,130.2% during the 1st quarter. Deutsche Bank AG now owns 398,571 shares of the company’s stock worth $18,011,000 after acquiring an additional 366,171 shares during the period. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other news, CEO Max R. Levchin sold 651,713 shares of Affirm stock in a transaction on Monday, September 22nd. The stock was sold at an average price of $89.27, for a total value of $58,178,419.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Siphelele Jiyane sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $85.42, for a total transaction of $1,067,750.00. Following the transaction, the chief accounting officer directly owned 213,967 shares of the company’s stock, valued at approximately $18,277,061.14. This represents a 5.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 672,402 shares of company stock worth $59,819,400. 11.01% of the stock is owned by company insiders.

Affirm Stock Down 1.0%

AFRM opened at $67.99 on Friday. The firm has a market capitalization of $22.44 billion, a P/E ratio of 101.48, a PEG ratio of 3.10 and a beta of 3.57. The company has a debt-to-equity ratio of 2.40, a current ratio of 12.80 and a quick ratio of 12.80. The company’s 50-day moving average is $71.71 and its 200 day moving average is $70.84. Affirm Holdings, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. The business had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.Affirm’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. Research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Rothschild Redb upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 6th. UBS Group increased their target price on shares of Affirm from $56.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 29th. Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 13th. Mizuho increased their price target on Affirm from $70.00 to $108.00 and gave the stock an “outperform” rating in a report on Tuesday, September 2nd. Finally, Morgan Stanley lowered their price objective on shares of Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a research note on Friday, November 7th. Three investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.57.

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.