BBR Partners LLC Trims Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

BBR Partners LLC decreased its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 28.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,366 shares of the company’s stock after selling 4,452 shares during the period. BBR Partners LLC’s holdings in Affirm were worth $464,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC acquired a new position in shares of Affirm in the 2nd quarter valued at about $45,219,000. Artemis Investment Management LLP acquired a new position in shares of Affirm in the 3rd quarter valued at about $30,808,000. Charles Schwab Investment Management Inc. lifted its holdings 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 buying an additional 672,883 shares during the period. Bank of Montreal Can lifted its holdings in shares of Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock valued at $29,814,000 after buying an additional 528,400 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 buying an additional 176,675 shares during the period. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Insider Activity

In related news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction that occurred 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 868,253 shares of company stock worth $52,186,668 over the last ninety days. Corporate insiders own 12.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a report on Tuesday, October 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research note on Friday, October 4th. Barclays lifted their price target on Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America lifted their price target on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Affirm has an average rating of “Hold” and an average target price of $51.13.

Affirm Price Performance

AFRM stock opened at $68.37 on Thursday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The business has a 50 day simple moving average of $47.84 and a 200-day simple moving average of $37.25. The firm has a market capitalization of $21.47 billion, a PE ratio of -48.15 and a beta of 3.47. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $70.20.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The business had revenue of $698.48 million during the quarter, compared to analyst estimates 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 business earned ($0.57) earnings per share. Equities research analysts anticipate that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

About Affirm

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.