Spyglass Capital Management LLC Has $95.85 Million Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

Spyglass Capital Management LLC grew its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,348,095 shares of the company’s stock after purchasing an additional 200,449 shares during the quarter. Affirm makes up 6.3% of Spyglass Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Spyglass Capital Management LLC’s holdings in Affirm were worth $95,849,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Comerica Bank lifted its position in Affirm by 16.2% in the first quarter. Comerica Bank now owns 6,109 shares of the company’s stock worth $228,000 after purchasing an additional 850 shares during the period. Plato Investment Management Ltd increased its stake in shares of Affirm by 255.1% in the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after acquiring an additional 954 shares during the last quarter. Cetera Advisors LLC increased its stake in shares of Affirm by 38.4% in the first quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock worth $269,000 after acquiring an additional 2,005 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Affirm by 19.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after acquiring an additional 30,500 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Affirm by 35.3% in the second quarter. GAMMA Investing LLC now owns 3,954 shares of the company’s stock worth $119,000 after acquiring an additional 1,031 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on AFRM shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a research note on Friday, October 4th. Mizuho upped their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Wells Fargo & Company increased their target price on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Bank of America increased their target price on shares of Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Affirm has an average rating of “Hold” and a consensus target price of $52.53.

Insider Buying and Selling

In other Affirm news, President Libor Michalek sold 100,821 shares of Affirm stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the sale, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $10,860,071.39. The trade was a 38.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 868,253 shares of company stock valued at $52,186,668 over the last three months. 12.41% of the stock is owned by corporate insiders.

Affirm Trading Up 3.2 %

Affirm stock opened at $68.37 on Friday. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $70.20. The firm has a market capitalization of $21.47 billion, a PE ratio of -48.15 and a beta of 3.47. The business’s 50-day simple moving average is $48.32 and its 200-day simple moving average is $37.47. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period last year, the business earned ($0.57) earnings per share. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share for the current 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.