Berkshire Capital Holdings Inc. Raises Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Berkshire Capital Holdings Inc. grew its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,370 shares of the company’s stock after purchasing an additional 32,540 shares during the quarter. Affirm makes up approximately 3.9% of Berkshire Capital Holdings Inc.’s portfolio, making the stock its 10th biggest position. Berkshire Capital Holdings Inc.’s holdings in Affirm were worth $10,802,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Teacher Retirement System of Texas lifted its position in Affirm by 121.9% during the fourth quarter. Teacher Retirement System of Texas now owns 62,436 shares of the company’s stock valued at $3,802,000 after buying an additional 34,298 shares during the period. Maryland State Retirement & Pension System increased its holdings in Affirm by 6.2% in the 4th quarter. Maryland State Retirement & Pension System now owns 13,838 shares of the company’s stock worth $843,000 after buying an additional 807 shares in the last quarter. Xponance Inc. boosted its position in Affirm by 34.8% in the fourth quarter. Xponance Inc. now owns 12,456 shares of the company’s stock worth $759,000 after purchasing an additional 3,216 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in Affirm in the fourth quarter worth about $228,000. Finally, Counterpoint Mutual Funds LLC purchased a new position in Affirm in the fourth quarter worth about $477,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Compass Point raised Affirm from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $61.00 to $64.00 in a research report on Wednesday. The Goldman Sachs Group reduced their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday. JPMorgan Chase & Co. boosted their target price on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Barclays boosted their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Finally, Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and upped their price objective for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Eight analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Affirm has an average rating of “Moderate Buy” and a consensus target price of $68.41.

Insider Activity

In related news, Director Keith Rabois sold 16,088 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the sale, the director now directly owns 61,520 shares of the company’s stock, valued at $3,935,434.40. This trade represents a 20.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Robert O’hare sold 6,541 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total value of $407,373.48. Following the sale, the chief financial officer now directly owns 2,963 shares in the company, valued at approximately $184,535.64. This trade represents a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 62,301 shares of company stock valued at $3,920,543. Company insiders own 12.41% of the company’s stock.

Affirm Trading Up 9.2 %

Shares of NASDAQ:AFRM opened at $47.71 on Thursday. The business’s 50-day moving average is $61.00 and its 200 day moving average is $55.95. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The firm has a market capitalization of $15.17 billion, a P/E ratio of -73.40 and a beta of 3.63. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. On average, research analysts predict that Affirm Holdings, Inc. will post -0.18 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.