Westerly Capital Management LLC Sells 75,000 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Westerly Capital Management LLC trimmed its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 68.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,000 shares of the company’s stock after selling 75,000 shares during the quarter. Westerly Capital Management LLC’s holdings in Affirm were worth $2,132,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank acquired a new position in Affirm in the 4th quarter worth about $139,949,000. Capital International Investors bought a new stake in shares of Affirm during the fourth quarter worth about $100,030,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Affirm by 1,801.2% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 767,677 shares of the company’s stock valued at $46,752,000 after buying an additional 727,298 shares during the period. Vanguard Group Inc. raised its holdings in Affirm by 3.4% in the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock valued at $1,328,568,000 after buying an additional 716,574 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its position in Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after buying an additional 538,892 shares during the period. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the business’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $80.00, for a total value of $400,000.00. Following the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at approximately $10,986,000. The trade was a 3.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,088 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $45.41, for a total transaction of $730,556.08. Following the transaction, the director now owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. The trade was a 26.15 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 55,762 shares of company stock worth $3,241,246 in the last 90 days. Insiders own 12.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research report on Monday, March 24th. TD Cowen assumed coverage on Affirm in a report on Tuesday, April 8th. They set a “buy” rating and a $50.00 target price on the stock. The Goldman Sachs Group decreased their price target on Affirm from $90.00 to $56.00 and set a “buy” rating for the company in a research note on Tuesday, March 18th. Evercore ISI started coverage on Affirm in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price objective on the stock. Finally, William Blair began coverage on shares of Affirm in a research report on Wednesday, January 15th. They set an “outperform” rating for the company. Eight research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.74.

Affirm Stock Performance

Shares of Affirm stock opened at $50.40 on Wednesday. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $82.53. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68. The business has a 50 day moving average price of $48.44 and a 200-day moving average price of $56.40. The company has a market cap of $16.03 billion, a PE ratio of -77.54 and a beta of 3.68.

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