Lecap Asset Management Ltd. Trims Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

Lecap Asset Management Ltd. reduced its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 25.5% during the 3rd quarter, Holdings Channel.com reports. The firm owned 51,975 shares of the company’s stock after selling 17,797 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Affirm were worth $2,122,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of AFRM. Ridgewood Investments LLC acquired a new stake in Affirm during the second quarter worth approximately $27,000. ORG Wealth Partners LLC purchased a new stake in shares of Affirm in the third quarter valued at $29,000. Allspring Global Investments Holdings LLC grew its position in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the period. ORG Partners LLC increased its stake in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its position in Affirm by 255.1% during the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after buying an additional 954 shares during the period. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AFRM has been the subject of several recent analyst reports. The Goldman Sachs Group lifted their price target on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a report on Monday, October 14th. Bank of America upped their price target on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Mizuho restated an “outperform” rating and set a $65.00 price objective on shares of Affirm in a report on Tuesday, August 27th. Finally, Wells Fargo & Company upgraded Affirm from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $40.00 to $52.00 in a report on Friday, October 11th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Affirm currently has a consensus rating of “Hold” and an average target price of $41.50.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Affirm news, Director Keith Rabois sold 9,275 shares of the stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,075 shares of company stock worth $4,803,786. 13.05% of the stock is currently owned by corporate insiders.

Affirm Trading Up 0.8 %

AFRM opened at $43.99 on Wednesday. The firm has a market capitalization of $13.60 billion, a P/E ratio of -19.73 and a beta of 3.50. The firm’s 50 day moving average is $39.41 and its 200-day moving average is $33.72. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm Holdings, Inc. has a 52-week low of $15.97 and a 52-week high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.31. The firm had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. Analysts expect that Affirm Holdings, Inc. will post -0.82 EPS 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.