WT Asset Management Ltd Takes $2.24 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

WT Asset Management Ltd purchased a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the 4th quarter, Holdings Channel reports. The fund purchased 36,850 shares of the company’s stock, valued at approximately $2,244,000. Affirm accounts for about 0.2% of WT Asset Management Ltd’s holdings, making the stock its 29th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Valley National Advisers Inc. acquired a new position in Affirm during the 4th quarter worth about $61,000. China Universal Asset Management Co. Ltd. acquired a new stake in Affirm in the fourth quarter worth about $338,000. Waldron Private Wealth LLC raised its holdings in Affirm by 7.0% during the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock worth $334,000 after purchasing an additional 357 shares during the last quarter. TriaGen Wealth Management LLC acquired a new position in Affirm during the 4th quarter valued at about $585,000. Finally, Caprock Group LLC boosted its stake in shares of Affirm by 9.1% in the 4th quarter. Caprock Group LLC now owns 9,240 shares of the company’s stock valued at $563,000 after purchasing an additional 770 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Affirm Trading Down 0.6 %

NASDAQ AFRM opened at $59.53 on Wednesday. The stock has a market capitalization of $18.70 billion, a price-to-earnings ratio of -41.92 and a beta of 3.66. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $73.34. The stock’s 50 day moving average price is $63.23 and its two-hundred day moving average price is $48.67. 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 announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. As a group, analysts anticipate that Affirm Holdings, Inc. will post -0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AFRM shares. Compass Point upgraded shares of Affirm from a “sell” rating to a “neutral” rating and increased their price objective for the company from $20.00 to $61.00 in a report on Tuesday, January 28th. Mizuho upped their price objective on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 8th. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Finally, Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $62.88.

Insider Activity

In related news, CFO Robert O’hare sold 100,938 shares of the firm’s stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $72.05, for a total transaction of $180,125.00. Following the sale, the director now directly owns 41,497 shares in the company, valued at $2,989,858.85. This trade represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,339,564 shares of company stock worth $87,252,461 in the last quarter. Corporate insiders own 12.41% of the company’s stock.

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.