Geode Capital Management LLC Decreases Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Geode Capital Management LLC lessened its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,961,119 shares of the company’s stock after selling 42,541 shares during the period. Geode Capital Management LLC’s holdings in Affirm were worth $161,736,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AFRM. Spyglass Capital Management LLC lifted its holdings in Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in shares of Affirm during the 2nd quarter worth $45,219,000. Bank of New York Mellon Corp boosted its holdings in shares of Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after buying an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Affirm during the third quarter valued at about $30,808,000. 69.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on AFRM. Wells Fargo & Company boosted their target price on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Mizuho raised their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a research note on Friday, October 4th. Finally, The Goldman Sachs Group lifted their price objective on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Affirm currently has a consensus rating of “Hold” and a consensus target price of $55.36.

Insider Activity

In related news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.98, for a total transaction of $1,109,612.28. Following the completion of the transaction, the director now directly owns 109,780 shares in the company, valued at $7,572,624.40. The trade was a 12.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Michael Linford sold 400,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the transaction, the chief operating officer now owns 85,420 shares in the company, valued at $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,380,667 shares of company stock worth $88,399,613 in the last three months. Corporate insiders own 12.41% of the company’s stock.

Affirm Stock Up 2.8 %

AFRM stock opened at $70.70 on Monday. The stock has a 50-day simple moving average of $54.98 and a two-hundred day simple moving average of $40.74. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $72.82. The firm has a market capitalization of $22.20 billion, a PE ratio of -49.79 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. During the same quarter in the previous year, the company earned ($0.57) earnings per share. On average, equities analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Affirm 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.