Mariner LLC Cuts Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Mariner LLC cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 4.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 54,339 shares of the company’s stock after selling 2,382 shares during the period. Mariner LLC’s holdings in Affirm were worth $3,309,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock valued at $1,328,568,000 after buying an additional 716,574 shares in the last quarter. Geode Capital Management LLC increased its position in Affirm by 5.4% in the fourth quarter. Geode Capital Management LLC now owns 4,173,353 shares of the company’s stock worth $254,238,000 after purchasing an additional 212,234 shares during the last quarter. Norges Bank purchased a new stake in Affirm during the fourth quarter valued at $139,949,000. Charles Schwab Investment Management Inc. grew its stake in shares of Affirm by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company’s stock worth $138,368,000 after buying an additional 68,848 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Affirm by 0.6% in the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after acquiring an additional 5,169 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Stock Performance

Shares of NASDAQ:AFRM opened at $40.65 on Tuesday. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of -62.54 and a beta of 3.68. The firm has a 50 day moving average of $52.14 and a 200 day moving average of $56.26. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. On average, sell-side analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the sale, the director now owns 137,325 shares in the company, valued at approximately $10,986,000. This represents a 3.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Keith Rabois sold 16,086 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now directly owns 77,608 shares in the company, valued at $4,665,792.96. This represents a 17.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,762 shares of company stock worth $3,241,246 in the last 90 days. 12.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, February 7th. BMO Capital Markets reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Affirm in a research note on Thursday, March 20th. Royal Bank of Canada raised their target price on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a report on Friday, February 7th. Morgan Stanley upped their price target on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a report on Tuesday, January 28th. Finally, Seaport Res Ptn upgraded Affirm to a “hold” rating in a research report on Monday, March 24th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.74.

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.