Marshall Wace LLP Sells 6,630,808 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Marshall Wace LLP lowered its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 86.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,020,253 shares of the company’s stock after selling 6,630,808 shares during the period. Marshall Wace LLP owned approximately 0.33% of Affirm worth $30,822,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the period. Capital World Investors grew its holdings in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after buying an additional 77,050 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after buying an additional 749,368 shares during the last quarter. Leo Wealth LLC bought a new stake in shares of Affirm during the fourth quarter worth about $57,647,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Royal Bank of Canada lifted their price target on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a research note on Thursday, August 29th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Barclays increased their price target on Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research report on Monday. Susquehanna initiated coverage on shares of Affirm in a report on Friday, September 20th. They set a “positive” rating and a $52.00 price objective on the stock. Finally, BTIG Research assumed coverage on shares of Affirm in a report on Friday, June 7th. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Affirm presently has a consensus rating of “Hold” and an average target price of $35.53.

Insider Buying and Selling

In other Affirm news, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now owns 64,348 shares in the company, valued at $1,730,961.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,351 shares of company stock valued at $5,081,045. Company insiders own 13.05% of the company’s stock.

Affirm Stock Down 3.7 %

AFRM stock opened at $41.64 on Friday. The stock has a fifty day moving average of $33.92 and a 200-day moving average of $32.92. Affirm Holdings, Inc. has a fifty-two week low of $15.97 and a fifty-two week high of $52.48. The company has a market capitalization of $12.96 billion, a price-to-earnings ratio of -18.67 and a beta of 3.51. The company has a debt-to-equity ratio of 2.41, a quick ratio of 13.07 and a current ratio of 13.07.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The firm had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.82 earnings per share for the current year.

Affirm 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.