WT Asset Management Ltd Invests $2.24 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

WT Asset Management Ltd bought a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,850 shares of the company’s stock, valued at approximately $2,244,000. Affirm accounts for about 0.2% of WT Asset Management Ltd’s investment portfolio, making the stock its 29th largest holding.

Several other hedge funds have also modified their holdings of the stock. AQR Capital Management LLC lifted its position in shares of Affirm by 2.5% in the 2nd quarter. AQR Capital Management LLC now owns 29,135 shares of the company’s stock valued at $880,000 after acquiring an additional 722 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Affirm by 6.4% in the second quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after purchasing an additional 3,105 shares in the last quarter. Handelsbanken Fonder AB boosted its position in shares of Affirm by 24.4% in the third quarter. Handelsbanken Fonder AB now owns 62,200 shares of the company’s stock worth $2,539,000 after buying an additional 12,200 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Affirm during the third quarter valued at $30,808,000. Finally, LifePro Asset Management acquired a new position in Affirm during the third quarter valued at $2,078,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Price Performance

Shares of NASDAQ:AFRM opened at $59.53 on Wednesday. The company has a market cap of $18.70 billion, a price-to-earnings ratio of -41.92 and a beta of 3.66. The business has a 50 day moving average price of $63.23 and a 200 day moving average price of $48.67. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $73.34.

Affirm (NASDAQ:AFRM) last announced 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. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. The business had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same quarter last year, the company posted ($0.57) earnings per share. Research analysts predict that Affirm Holdings, Inc. will post -0.62 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America upped their target price on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Mizuho lifted their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 8th. Jefferies Financial Group raised Affirm from a “hold” rating to a “buy” rating and raised their price target for the stock from $70.00 to $82.00 in a research note on Thursday, December 19th. Finally, Morgan Stanley boosted their price target on Affirm from $39.00 to $55.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 28th. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $62.88.

Insider Activity

In other news, Director Keith Rabois sold 16,086 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $60.12, for a total value of $967,090.32. Following the completion of the transaction, the director now owns 77,608 shares in the company, valued at approximately $4,665,792.96. This represents a 17.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 100,938 shares of Affirm stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $55.00, for a total transaction of $5,551,590.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,339,564 shares of company stock valued at $87,252,461. Insiders own 12.41% of the company’s stock.

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.