Ardmore Road Asset Management LP Purchases 536,814 Shares of Affirm Holdings, Inc. $AFRM

Ardmore Road Asset Management LP raised its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 849.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 600,000 shares of the company’s stock after buying an additional 536,814 shares during the quarter. Affirm comprises about 1.8% of Ardmore Road Asset Management LP’s holdings, making the stock its 20th largest position. Ardmore Road Asset Management LP’s holdings in Affirm were worth $27,492,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Affirm during the 4th quarter worth $281,961,000. Invesco Ltd. raised its stake in Affirm by 294.2% in the 3rd quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock valued at $316,706,000 after acquiring an additional 3,234,260 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in Affirm by 11,042.3% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock valued at $157,004,000 after purchasing an additional 2,141,881 shares during the last quarter. Atreides Management LP lifted its holdings in Affirm by 543.3% during the second 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 during the last quarter. Finally, State Street Corp boosted its position in Affirm by 26.7% during the third quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after purchasing an additional 1,187,665 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the sale, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. This trade represents a 5.25% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the firm’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. The trade was a 45.87% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AFRM. Oppenheimer reiterated an “outperform” rating and issued a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. Citizens Jmp dropped their price target on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating on the stock in a research note on Friday, April 17th. Sanford C. Bernstein assumed coverage on shares of Affirm in a report on Tuesday, July 21st. They issued an “outperform” rating and a $100.00 price objective for the company. Bank of America lifted their price objective on shares of Affirm from $82.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, May 11th. Finally, Robert W. Baird boosted their target price on shares of Affirm from $70.00 to $82.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $92.74.

Affirm Price Performance

AFRM opened at $70.23 on Monday. The firm has a market capitalization of $23.52 billion, a P/E ratio of 63.85, a price-to-earnings-growth ratio of 2.86 and a beta of 3.67. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The company has a fifty day moving average price of $73.92 and a 200-day moving average price of $63.64. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. The company had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 earnings per share. Equities research analysts expect that Affirm Holdings, Inc. will post 1.23 earnings per share for the current fiscal 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.