Quest Partners LLC Makes New Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Quest Partners LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 9,580 shares of the company’s stock, valued at approximately $391,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Dragoneer Investment Group LLC acquired a new position in Affirm in the 2nd quarter worth about $45,219,000. Artemis Investment Management LLP acquired a new position in Affirm in the third quarter worth approximately $30,808,000. Bank of Montreal Can raised its position in Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Affirm in the second quarter worth approximately $3,516,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Performance

Affirm stock opened at $66.55 on Monday. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $70.03. 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 stock has a fifty day moving average price of $46.89 and a two-hundred day moving average price of $36.76. The firm has a market capitalization of $20.90 billion, a P/E ratio of -46.87 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned ($0.57) earnings per share. As a group, analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm 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 transaction 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 trade was a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction on Monday, November 11th. The stock was 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. In the last three months, insiders sold 580,843 shares of company stock valued at $32,256,766. 12.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AFRM. Mizuho lifted their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group boosted their price target on Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Wells Fargo & Company increased their price objective on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Finally, Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their price target for the company from $25.00 to $45.00 in a report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Affirm has a consensus rating of “Hold” and a consensus target price of $50.44.

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.