AlphaQuest LLC Reduces Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

AlphaQuest LLC lowered its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 93.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 622 shares of the company's stock after selling 8,958 shares during the quarter. AlphaQuest LLC's holdings in Affirm were worth $38,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Quest Partners LLC acquired a new stake in Affirm in the 3rd quarter valued at $391,000. Nordea Investment Management AB bought a new stake in shares of Affirm during the fourth quarter worth approximately $6,380,000. Charles Schwab Investment Management Inc. lifted its stake in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company's stock valued at $89,935,000 after purchasing an additional 672,883 shares during the period. Atreides Management LP acquired a new position in Affirm in the third quarter valued at about $20,404,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in Affirm during the 3rd quarter worth $414,000. Institutional investors own 69.29% of the company's stock.

Affirm Stock Performance

Affirm stock traded up $2.64 during midday trading on Monday, hitting $52.54. The stock had a trading volume of 6,140,425 shares, compared to its average volume of 8,042,419. The firm's fifty day moving average is $60.68 and its two-hundred day moving average is $56.14. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The company has a market capitalization of $16.71 billion, a PE ratio of -80.83 and a beta of 3.63. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53.

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Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, research analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently issued reports on AFRM. Susquehanna downgraded Affirm from a "positive" rating to a "neutral" rating and set a $57.00 price objective for the company. in a report on Tuesday, January 21st. Royal Bank of Canada increased their price target on Affirm from $67.00 to $81.00 and gave the company a "sector perform" rating in a research note on Friday, February 7th. The Goldman Sachs Group reduced their price target 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 restated an "outperform" rating and set a $69.00 target price on shares of Affirm in a research report on Thursday. Finally, JPMorgan Chase & Co. boosted their price target on Affirm from $56.00 to $74.00 and gave the company an "overweight" rating in a research note on Monday, December 2nd. Seven research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.76.

Insiders Place Their Bets

In other news, Director Keith Rabois sold 16,086 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.32, for a total transaction of $1,002,479.52. Following the transaction, the director now owns 93,694 shares of the company's stock, valued at approximately $5,839,010.08. This represents a 14.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the completion of the sale, the director now owns 38,997 shares of the company's stock, valued at approximately $1,785,282.66. This represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 62,301 shares of company stock valued at $3,920,543 over the last three months. 12.41% of the stock is owned by company insiders.

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.