Marshall Wace LLP Lowers Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Marshall Wace LLP lowered its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 86.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,020,253 shares of the company's stock after selling 6,630,808 shares during the quarter. Marshall Wace LLP owned about 0.33% of Affirm worth $30,822,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company's stock valued at $775,895,000 after buying an additional 1,316,901 shares during the period. Leo Wealth LLC bought a new position in Affirm in the fourth quarter valued at approximately $57,647,000. Baillie Gifford & Co. raised its position in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company's stock valued at $697,969,000 after purchasing an additional 749,368 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Affirm during the first quarter worth $20,150,000. Finally, RJA Asset Management LLC acquired a new stake in shares of Affirm in the 1st quarter valued at $14,808,000. Institutional investors own 69.29% of the company's stock.

Affirm Trading Down 1.2 %

AFRM stock traded down $0.48 during mid-day trading on Friday, reaching $41.16. The company's stock had a trading volume of 5,080,633 shares, compared to its average volume of 8,733,604. The company has a market cap of $12.81 billion, a price-to-earnings ratio of -18.46 and a beta of 3.51. Affirm Holdings, Inc. has a 12 month low of $15.97 and a 12 month high of $52.48. The business's 50 day moving average price is $34.15 and its 200 day moving average price is $32.95. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.45) by $0.31. The company had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. On average, equities research analysts predict that Affirm Holdings, Inc. will post -0.82 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. The Goldman Sachs Group reissued a "buy" rating and set a $42.00 price target on shares of Affirm in a report on Monday, June 24th. Wedbush boosted their target price on Affirm from $20.00 to $25.00 and gave the stock an "underperform" rating in a research note on Thursday, August 29th. Bank of America raised their price target on shares of Affirm from $36.00 to $42.00 and gave the company a "buy" rating in a research note on Thursday, August 29th. BTIG Research initiated coverage on shares of Affirm in a research report on Friday, June 7th. They set a "neutral" rating for the company. Finally, Mizuho restated an "outperform" rating and issued a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Affirm currently has an average rating of "Hold" and a consensus price target of $35.53.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares of the company's stock, valued at approximately $5,493,105. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company's stock, valued at approximately $5,493,105. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Keith Rabois sold 9,275 shares of the company's stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now owns 64,348 shares in the company, valued at approximately $1,730,961.20. The disclosure for this sale can be found here. Insiders have sold 121,351 shares of company stock valued at $5,081,045 in the last 90 days. 13.05% of the stock is currently owned by corporate 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.