Lord Abbett & CO. LLC Purchases 38,868 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Lord Abbett & CO. LLC grew its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 60.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 103,647 shares of the company’s stock after buying an additional 38,868 shares during the quarter. Lord Abbett & CO. LLC’s holdings in Affirm were worth $6,312,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 410 shares during the period. R Squared Ltd purchased a new position in Affirm during the 4th quarter valued at about $33,000. Coppell Advisory Solutions LLC bought a new stake in shares of Affirm in the 4th quarter valued at about $40,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Affirm in the 4th quarter worth approximately $43,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Affirm by 640.0% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company’s stock valued at $45,000 after purchasing an additional 640 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Affirm Trading Up 1.8 %

Shares of NASDAQ:AFRM opened at $49.09 on Monday. The business has a 50-day moving average price of $49.47 and a 200-day moving average price of $56.42. The stock has a market cap of $15.61 billion, a price-to-earnings ratio of -75.52 and a beta of 3.68. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

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

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Wells Fargo & Company reduced their price objective on shares of Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. The Goldman Sachs Group decreased their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. BMO Capital Markets reiterated an “outperform” rating and issued a $69.00 target price on shares of Affirm in a report on Thursday, March 20th. Morgan Stanley increased their price target on shares of Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 28th. Finally, Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research note on Monday, March 24th. Eight equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $66.74.

Insider Activity at Affirm

In related news, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total transaction of $730,556.08. Following the sale, the director now directly owns 45,432 shares of the company’s stock, valued at $2,063,067.12. This trade represents a 26.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 55,762 shares of company stock worth $3,241,246 over the last three months. Company insiders own 12.41% of the company’s stock.

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.