Townsquare Capital LLC Acquires 22,583 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Townsquare Capital LLC lifted its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 26.3% in the 3rd quarter, HoldingsChannel reports. The fund owned 108,451 shares of the company’s stock after purchasing an additional 22,583 shares during the period. Townsquare Capital LLC’s holdings in Affirm were worth $4,427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its stake in Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Affirm in the second quarter valued at approximately $45,219,000. Bank of New York Mellon Corp lifted its holdings in shares of Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares in the last quarter. Artemis Investment Management LLP purchased a new position in shares of Affirm during the third quarter valued at approximately $30,808,000. Finally, Bank of Montreal Can grew its holdings in Affirm by 269.7% during the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after buying an additional 528,400 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. This represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Libor Michalek sold 100,821 shares of the firm’s stock in a transaction that occurred on Friday, November 22nd. The shares were sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the completion of the transaction, the president now owns 159,449 shares of the company’s stock, valued at $10,860,071.39. This trade represents a 38.74 % 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 worth $52,186,668 over the last 90 days. Corporate insiders own 12.41% of the company’s stock.

Affirm Trading Up 3.2 %

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

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter in the previous year, the firm posted ($0.57) earnings per share. As a group, research analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $25.00 to $45.00 in a report on Monday, October 14th. Wells Fargo & Company upped their price objective 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. Mizuho lifted their target price on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Susquehanna upped their target price on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.53.

Affirm Company 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.