Entropy Technologies LP Makes New $464,000 Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

Entropy Technologies LP purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,364 shares of the company’s stock, valued at approximately $464,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its position in Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares during the period. Capital World Investors lifted its stake in Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after purchasing an additional 77,050 shares during the period. Dragoneer Investment Group LLC bought a new stake in shares of Affirm in the 2nd quarter valued at approximately $45,219,000. Bank of New York Mellon Corp raised its stake in Affirm by 25.6% during the second 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 in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Affirm during the 3rd quarter worth about $30,808,000. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 403,738 shares of company stock valued at $21,115,878 over the last three months. Company insiders own 12.41% of the company’s stock.

Affirm Price Performance

Shares of AFRM opened at $56.15 on Friday. The stock has a 50 day simple moving average of $44.49 and a 200 day simple moving average of $35.66. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $59.27. 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 firm has a market capitalization of $17.47 billion, a PE ratio of -39.54 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to the consensus estimate 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 prior year, the firm earned ($0.57) earnings per share. Sell-side analysts predict that Affirm Holdings, Inc. will post -0.6 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on AFRM shares. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price objective for the company in a research report on Tuesday, October 8th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Wells Fargo & Company upped their price target on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Finally, Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $46.03.

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.