Townsquare Capital LLC Purchases 22,583 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Townsquare Capital LLC boosted its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 26.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,451 shares of the company’s stock after acquiring an additional 22,583 shares during the quarter. Townsquare Capital LLC’s holdings in Affirm were worth $4,427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in AFRM. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 44.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in Affirm in the second quarter valued at about $45,219,000. Bank of New York Mellon Corp grew its position in Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after acquiring an additional 176,675 shares during the last quarter. Artemis Investment Management LLP acquired a new position in Affirm during the third quarter worth about $30,808,000. Finally, Bank of Montreal Can lifted its holdings in shares of Affirm by 269.7% in the third quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after acquiring an additional 528,400 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. The Goldman Sachs Group upped their price target on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Mizuho increased their target price on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $52.53.

Affirm Price Performance

AFRM stock opened at $68.37 on Friday. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50. The firm has a market cap of $21.47 billion, a price-to-earnings ratio of -48.15 and a beta of 3.47. The company’s fifty day simple moving average is $48.32 and its 200 day simple moving average is $37.47. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $70.20.

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, beating analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the business earned ($0.57) EPS. On average, analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at $5,493,105. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. This trade represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 868,253 shares of company stock valued at $52,186,668 in the last quarter. 12.41% of the stock is currently owned by company insiders.

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.