BIT Capital GmbH Sells 189,006 Shares of Affirm Holdings, Inc. $AFRM

BIT Capital GmbH lessened its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 44.3% in the third quarter, HoldingsChannel reports. The fund owned 237,335 shares of the company’s stock after selling 189,006 shares during the period. BIT Capital GmbH’s holdings in Affirm were worth $17,344,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of AFRM. Vanguard Group Inc. boosted its holdings in Affirm by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 24,419,068 shares of the company’s stock valued at $1,784,545,000 after purchasing an additional 223,258 shares during the period. Durable Capital Partners LP grew its position in Affirm by 12.3% during the second quarter. Durable Capital Partners LP now owns 7,389,337 shares of the company’s stock worth $510,899,000 after buying an additional 808,455 shares in the last quarter. Geode Capital Management LLC increased its stake in Affirm by 5.8% during the 2nd quarter. Geode Capital Management LLC now owns 4,659,287 shares of the company’s stock worth $322,195,000 after acquiring an additional 254,359 shares during the period. State Street Corp raised its holdings in Affirm by 3.8% in the 2nd quarter. State Street Corp now owns 4,454,300 shares of the company’s stock valued at $307,970,000 after acquiring an additional 161,522 shares in the last quarter. Finally, Foxhaven Asset Management LP lifted its position in shares of Affirm by 39.1% during the 2nd quarter. Foxhaven Asset Management LP now owns 2,896,908 shares of the company’s stock valued at $200,292,000 after acquiring an additional 814,951 shares during the period. 69.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

AFRM has been the subject of a number of analyst reports. Royal Bank Of Canada dropped their price target on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Oppenheimer dropped their target price on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating for the company in a research report on Friday, February 6th. Compass Point reissued a “buy” rating and issued a $68.00 price objective on shares of Affirm in a research note on Wednesday. Wall Street Zen cut Affirm from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Affirm in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $85.56.

Affirm Stock Up 0.2%

NASDAQ:AFRM opened at $51.82 on Friday. Affirm Holdings, Inc. has a one year low of $30.90 and a one year high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. The company has a market cap of $17.26 billion, a PE ratio of 63.98, a P/E/G ratio of 1.93 and a beta of 3.56. The firm’s 50 day simple moving average is $68.73 and its 200 day simple moving average is $73.31.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a net margin of 7.60% and a return on equity of 8.83%. Affirm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.23 earnings per share. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Transactions at Affirm

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the transaction, the chief financial officer owned 1,368 shares in the company, valued at approximately $109,440. This trade represents a 96.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The disclosure for this sale is available in the SEC filing. Insiders have sold 711,256 shares of company stock valued at $57,231,923 over the last 90 days. 11.01% of the stock is owned by corporate insiders.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.