Readystate Asset Management LP Makes New Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Readystate Asset Management LP purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 94,700 shares of the company’s stock, valued at approximately $3,866,000.

Several other large investors have also modified their holdings of the business. Spyglass Capital Management LLC boosted its position in shares of Affirm by 9.3% during the 3rd 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 in the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 worth $89,935,000 after buying an additional 672,883 shares in the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Affirm during the 2nd quarter worth approximately $45,219,000. Bank of New York Mellon Corp increased its stake in Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares in the last quarter. Finally, Artemis Investment Management LLP purchased a new position in Affirm in the 3rd quarter valued at approximately $30,808,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on AFRM. The Goldman Sachs Group raised their price target on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company lifted their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Friday, September 6th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.33.

Insider Buying and Selling

In related news, CFO Robert O’hare sold 79,039 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $70.01, for a total transaction of $5,533,520.39. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now directly owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 891,694 shares of company stock worth $53,821,357. Insiders own 12.41% of the company’s stock.

Affirm Stock Performance

Shares of NASDAQ AFRM opened at $72.00 on Thursday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. The stock has a 50 day simple moving average of $50.29 and a 200-day simple moving average of $38.54. The company has a market cap of $22.61 billion, a PE ratio of -50.70 and a beta of 3.66. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $72.19.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the firm posted ($0.57) earnings per share. On average, equities research analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS 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.