Affirm Holdings, Inc. (NASDAQ:AFRM) Shares Sold by Penserra Capital Management LLC

Penserra Capital Management LLC cut its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 1.8% during the third quarter, HoldingsChannel.com reports. The fund owned 406,630 shares of the company’s stock after selling 7,371 shares during the period. Penserra Capital Management LLC’s holdings in Affirm were worth $16,598,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in AFRM. Dragoneer Investment Group LLC acquired a new stake in shares of Affirm in the second quarter worth approximately $45,219,000. Artemis Investment Management LLP purchased a new position in Affirm during the third quarter worth approximately $30,808,000. Charles Schwab Investment Management Inc. lifted its position in Affirm by 44.0% during the third 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. Bank of Montreal Can lifted 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 worth $6,466,000 after buying an additional 187,790 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after buying an additional 176,675 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

AFRM has been the topic of a number of analyst reports. Susquehanna lifted their price objective on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $25.00 to $45.00 in a research report on Monday, October 14th. BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a research report on Friday, October 4th. Finally, Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $22.00 to $37.00 in a research report 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 stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $50.44.

Affirm Stock Performance

Shares of AFRM stock opened at $66.55 on Friday. The company has a market cap of $20.90 billion, a price-to-earnings ratio of -46.87 and a beta of 3.47. The stock has a 50 day simple moving average of $46.89 and a 200-day simple moving average of $36.73. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $70.03. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The business 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 business posted ($0.57) EPS. On average, equities analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Insider Buying and Selling

In related news, CFO Robert O’hare sold 100,938 shares of the company’s stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katherine Adkins sold 200,000 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.05, for a total value of $11,010,000.00. Following the sale, the insider now owns 93,545 shares in the company, valued at approximately $5,149,652.25. This trade represents a 68.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 580,843 shares of company stock worth $32,256,766 in the last quarter. Company insiders own 12.41% of the company’s stock.

Affirm Company 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.