Fortress Investment Group LLC Purchases Shares of 20,000 Affirm Holdings, Inc. (NASDAQ:AFRM)

Fortress Investment Group LLC acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 20,000 shares of the company’s stock, valued at approximately $1,218,000. Affirm comprises about 0.2% of Fortress Investment Group LLC’s investment portfolio, making the stock its 14th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Affirm during the fourth quarter worth approximately $28,000. Geneos Wealth Management Inc. increased its holdings in shares of Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm in the 4th quarter worth $33,000. Coppell Advisory Solutions LLC acquired a new position in Affirm in the fourth quarter valued at $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Affirm during the fourth quarter valued at about $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

AFRM has been the topic of several research analyst reports. The Goldman Sachs Group reduced their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research note on Tuesday, March 18th. Bank of America lifted their price target on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research report on Friday. Royal Bank of Canada increased their price objective on shares of Affirm from $67.00 to $81.00 and gave the stock a “sector perform” rating in a research report on Friday, February 7th. Susquehanna upgraded shares of Affirm from a “neutral” rating to a “positive” rating and set a $65.00 target price on the stock in a report on Friday. Finally, Morgan Stanley cut their price objective on Affirm from $65.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Seven research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Affirm currently has an average rating of “Moderate Buy” and a consensus price target of $66.63.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 16,088 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $63.97, for a total transaction of $1,029,149.36. Following the sale, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Christa S. Quarles sold 5,000 shares of Affirm stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $80.00, for a total transaction of $400,000.00. Following the completion of the transaction, the director now directly owns 137,325 shares of the company’s stock, valued at $10,986,000. This trade represents a 3.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 55,765 shares of company stock valued at $3,094,694 over the last 90 days. 12.41% of the stock is owned by company insiders.

Affirm Stock Performance

Shares of Affirm stock opened at $46.44 on Friday. The firm has a market cap of $14.77 billion, a PE ratio of -71.45 and a beta of 3.66. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The firm’s 50-day simple moving average is $46.42 and its 200-day simple moving average is $56.60. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The company had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. During the same quarter last year, the business posted ($0.43) EPS. Affirm’s quarterly revenue was up 35.9% compared to the same quarter last year. Equities analysts forecast 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.