Leigh Baldwin & CO. LLC Makes New Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Leigh Baldwin & CO. LLC purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 210,166 shares of the company’s stock, valued at approximately $1,280,000. Leigh Baldwin & CO. LLC owned approximately 0.07% of Affirm as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital Research Global Investors lifted its stake in Affirm by 2.0% in the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock valued at $1,477,747,000 after buying an additional 470,409 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after purchasing an additional 716,574 shares during the last quarter. Capital World Investors grew its holdings in shares of Affirm by 0.4% during the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock worth $1,116,861,000 after buying an additional 72,582 shares in the last quarter. Durable Capital Partners LP grew its holdings in shares of Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after buying an additional 2,888,827 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its position in shares of Affirm by 11.6% in the fourth quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock valued at $316,561,000 after buying an additional 538,892 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Down 14.4%

Shares of Affirm stock opened at $46.44 on Monday. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The company’s fifty day simple moving average is $46.42 and its 200-day simple moving average is $56.81. The company has a market cap of $14.77 billion, a price-to-earnings ratio of -71.45 and a beta of 3.66. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Affirm’s revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.43) earnings per share. As a group, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Insider Activity at Affirm

In other news, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. The trade was a 3.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Keith Rabois sold 16,088 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the sale, the director now owns 61,520 shares in the company, valued at approximately $3,935,434.40. This trade represents a 20.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,765 shares of company stock valued at $3,094,694 in the last ninety days. Insiders own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

AFRM has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Affirm from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. TD Cowen began coverage on Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price target on the stock. 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. Morgan Stanley lowered their target price on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, JMP Securities dropped their price target on shares of Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a research report on Friday. Seven analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $66.63.

About Affirm

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.