Element Squared LLC Acquires 13,678 Shares of Affirm Holdings, Inc. $AFRM

Element Squared LLC lifted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 68.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,664 shares of the company’s stock after buying an additional 13,678 shares during the period. Affirm comprises about 1.4% of Element Squared LLC’s portfolio, making the stock its 19th biggest holding. Element Squared LLC’s holdings in Affirm were worth $2,506,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Invesco Ltd. raised its stake in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after acquiring an additional 3,234,260 shares in the last quarter. Atreides Management LP boosted its stake in shares of Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares in the last quarter. State Street Corp boosted its stake in shares of Affirm by 26.7% in the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock valued at $412,315,000 after purchasing an additional 1,187,665 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Affirm by 333.5% during the 3rd quarter. Alliancebernstein L.P. now owns 1,166,370 shares of the company’s stock valued at $85,238,000 after purchasing an additional 897,340 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its position in Affirm by 68.9% during the 3rd quarter. Qube Research & Technologies Ltd now owns 2,146,092 shares of the company’s stock worth $156,836,000 after purchasing an additional 875,813 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. UBS Group set a $78.00 target price on shares of Affirm in a research report on Friday, February 6th. Evercore reiterated an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Cantor Fitzgerald reissued an “overweight” rating and set a $85.00 price objective on shares of Affirm in a report on Monday, February 9th. Citigroup restated a “market outperform” rating on shares of Affirm in a research report on Tuesday, February 24th. Finally, Oppenheimer lowered their target price on Affirm from $95.00 to $83.00 and set an “outperform” rating for the company in a report on Friday, February 6th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $85.00.

Insider Activity

In related news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The SEC filing for this sale provides additional information. Company insiders own 11.01% of the company’s stock.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $46.31 on Friday. The company’s 50 day moving average price is $51.39 and its 200-day moving average price is $66.19. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. Affirm Holdings, Inc. has a 52-week low of $30.90 and a 52-week high of $100.00. The company has a market capitalization of $15.43 billion, a P/E ratio of 57.17, a price-to-earnings-growth ratio of 1.71 and a beta of 3.63.

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

Affirm Company Profile

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.