Ardmore Road Asset Management LP Trims Holdings in Affirm Holdings, Inc. $AFRM

Ardmore Road Asset Management LP reduced its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 16.7% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 500,000 shares of the company’s stock after selling 100,000 shares during the period. Affirm comprises approximately 2.9% of Ardmore Road Asset Management LP’s holdings, making the stock its 14th biggest holding. Ardmore Road Asset Management LP owned 0.15% of Affirm worth $34,570,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Cresset Asset Management LLC boosted its holdings in Affirm by 26.8% in the second quarter. Cresset Asset Management LLC now owns 16,350 shares of the company’s stock valued at $1,130,000 after acquiring an additional 3,453 shares during the last quarter. Amundi grew its holdings in Affirm by 47.5% during the 2nd quarter. Amundi now owns 579,594 shares of the company’s stock valued at $39,627,000 after purchasing an additional 186,613 shares in the last quarter. Veltria Advisors Corp. purchased a new stake in shares of Affirm during the second quarter worth about $312,000. First Trust Advisors LP boosted its stake in shares of Affirm by 44.8% during the 2nd quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock valued at $13,242,000 after buying an additional 59,297 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of Affirm by 18.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after purchasing an additional 427 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity at Affirm

In other Affirm news, CAO Siphelele Jiyane sold 12,500 shares of the business’s stock in a transaction on Monday, September 15th. The stock was sold at an average price of $85.42, for a total value of $1,067,750.00. Following the transaction, the chief accounting officer owned 213,967 shares of the company’s stock, valued at approximately $18,277,061.14. The trade was a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert O’hare sold 8,189 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The shares were sold at an average price of $70.00, for a total transaction of $573,230.00. Following the sale, the chief financial officer directly owned 1,368 shares in the company, valued at $95,760. This trade represents a 85.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 672,402 shares of company stock valued at $59,819,400 in the last three months. Corporate insiders own 11.01% of the company’s stock.

Affirm Trading Down 1.0%

Shares of Affirm stock opened at $67.99 on Friday. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The company’s fifty day simple moving average is $71.71 and its 200-day simple moving average is $70.84. Affirm Holdings, Inc. has a 1 year low of $30.90 and a 1 year high of $100.00. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 101.48, a PEG ratio of 3.10 and a beta of 3.57.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 6th. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.12. The business had revenue of $933.34 million during 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 revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) earnings per share. As a group, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Evercore ISI reissued an “outperform” rating on shares of Affirm in a report on Tuesday, September 16th. Truist Financial dropped their target price on Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 13th. Jefferies Financial Group lifted their price target on Affirm from $82.00 to $95.00 and gave the stock a “buy” rating in a research note on Tuesday, August 26th. Finally, Citigroup raised shares of Affirm to a “strong-buy” rating in a research report on Thursday, October 23rd. Three equities research 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 MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.57.

Affirm Company Profile

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.