Polar Capital Holdings Plc Makes New $8.30 Million Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Polar Capital Holdings Plc purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, Holdings Channel.com reports. The fund purchased 136,206 shares of the company’s stock, valued at approximately $8,295,000.

A number of other large investors have also modified their holdings of AFRM. Itau Unibanco Holding S.A. purchased a new stake in shares of Affirm during the fourth quarter worth about $28,000. Geneos Wealth Management Inc. lifted its position in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares in the last quarter. R Squared Ltd acquired a new position in Affirm in the 4th quarter valued at $33,000. Coppell Advisory Solutions LLC acquired a new position in Affirm in the 4th quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Affirm in the 4th quarter valued at $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Keith Rabois sold 16,089 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the completion of the sale, the director now directly owns 29,343 shares in the company, valued at $1,496,493. This represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $45.78, for a total value of $114,450.00. Following the completion of the sale, the director now owns 38,997 shares of the company’s stock, valued at $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,765 shares of company stock worth $2,694,694 over the last three months. Insiders own 12.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on AFRM shares. Bank of America increased their price target on Affirm from $76.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley cut their price target on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Friday, February 7th. The Goldman Sachs Group upped their price objective on Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday. Finally, TD Cowen assumed coverage on shares of Affirm in a research note on Tuesday, April 8th. They set a “buy” rating and a $50.00 price objective for the company. Seven analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.05.

Affirm Stock Performance

AFRM stock opened at $51.75 on Friday. The firm has a market cap of $16.46 billion, a PE ratio of -79.62 and a beta of 3.66. The business’s 50-day moving average price is $46.54 and its two-hundred day moving average price is $56.94. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53. 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 posted its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. The company had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.43) earnings per share. As a group, research analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current 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.