Brevan Howard Capital Management LP Invests $7.09 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

by · The Markets Daily

Brevan Howard Capital Management LP acquired a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM – Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 116,491 shares of the company’s stock, valued at approximately $7,094,000.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on AFRM shares. UBS Group upped their price target on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Seaport Res Ptn raised shares of Affirm to a “hold” rating in a report on Monday, March 24th. TD Cowen assumed coverage on shares of Affirm in a research note on Tuesday, April 8th. They issued a “buy” rating and a $50.00 price objective on the stock. Morgan Stanley boosted their price target on Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 28th. Finally, Compass Point upgraded Affirm from a “neutral” rating to a “buy” rating and increased their target price for the company from $61.00 to $64.00 in a report on Wednesday, March 19th. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.74.

View Our Latest Stock Analysis on Affirm

Insider Activity

In related news, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the sale, the director now directly owns 61,520 shares in the company, valued at $3,935,434.40. The trade was a 20.73 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $45.78, for a total transaction of $114,450.00. Following the transaction, the director now directly owns 38,997 shares in the company, valued at $1,785,282.66. This represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,676 shares of company stock valued at $2,274,155 in the last quarter. Company insiders own 12.41% of the company’s stock.

Affirm Trading Up 5.2 %

AFRM opened at $52.34 on Monday. Affirm Holdings, Inc. has a twelve month low of $22.25 and a twelve month high of $82.53. The firm has a market cap of $16.65 billion, a PE ratio of -80.52 and a beta of 3.68. The company has a debt-to-equity ratio of 2.68, a quick ratio of 11.26 and a current ratio of 11.26. The firm’s fifty day moving average is $47.50 and its two-hundred day moving average is $56.53.

Affirm (NASDAQ:AFRM – Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. Equities research analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Affirm Company Profile

(Free Report)

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.

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