Main Management ETF Advisors LLC Sells 5,312 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Main Management ETF Advisors LLC reduced its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,096 shares of the company’s stock after selling 5,312 shares during the period. Affirm accounts for approximately 0.2% of Main Management ETF Advisors LLC’s investment portfolio, making the stock its 29th biggest holding. Main Management ETF Advisors LLC’s holdings in Affirm were worth $3,599,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Capital Research Global Investors grew its holdings in Affirm by 2.0% in the fourth quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock worth $1,477,747,000 after purchasing an additional 470,409 shares during the period. Vanguard Group Inc. boosted its position in shares of Affirm by 3.4% during the 4th quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after purchasing an additional 716,574 shares in the last quarter. Capital World Investors grew its stake in shares of Affirm by 0.4% in the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock valued at $1,116,861,000 after buying an additional 72,582 shares during the period. Durable Capital Partners LP increased its position in Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after buying an additional 2,888,827 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. raised its stake 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. 69.29% of the stock is owned by institutional investors.

Affirm Stock Up 0.4%

AFRM stock opened at $53.94 on Wednesday. The stock has a fifty day moving average of $46.34 and a 200-day moving average of $56.88. Affirm Holdings, Inc. has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of -82.98 and a beta of 3.66. 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 quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.10. The company had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.43) EPS. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AFRM. Susquehanna raised Affirm from a “neutral” rating to a “positive” rating and set a $65.00 price objective for the company in a research note on Friday, May 9th. JMP Securities cut their target price on Affirm from $85.00 to $75.00 and set a “market outperform” rating on the stock in a report on Friday, May 9th. Bank of America boosted their price target on shares of Affirm from $76.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, May 9th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Affirm in a research note on Thursday, March 20th. Finally, Wells Fargo & Company decreased their target price on shares of Affirm from $85.00 to $67.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.05.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 5,000 shares of the stock in a transaction on Friday, February 14th. The stock was sold at an average price of $80.00, for a total value of $400,000.00. Following the sale, the director now owns 137,325 shares in the company, valued at approximately $10,986,000. This trade represents a 3.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $45.78, for a total value of $114,450.00. Following the transaction, the director now owns 38,997 shares of the company’s stock, valued at approximately $1,785,282.66. The trade was a 6.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 55,765 shares of company stock valued at $3,094,694. 12.41% of the stock is currently owned by corporate insiders.

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.