Leo Wealth LLC Has $62.45 Million Stock Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Leo Wealth LLC lessened its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 7.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,025,513 shares of the company’s stock after selling 79,000 shares during the period. Affirm comprises 5.6% of Leo Wealth LLC’s holdings, making the stock its 2nd largest holding. Leo Wealth LLC’s holdings in Affirm were worth $62,454,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Spyglass Capital Management LLC lifted its stake in shares of Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. increased its stake in 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 buying an additional 672,883 shares during the last quarter. Artemis Investment Management LLP raised its stake in shares of Affirm by 2.1% during the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock worth $46,908,000 after purchasing an additional 15,517 shares during the period. Bank of Montreal Can raised its stake 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 valued at $29,814,000 after buying an additional 528,400 shares during the period. Finally, Holocene Advisors LP bought a new position in Affirm in the 3rd quarter worth approximately $27,872,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 6,629 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the completion of the sale, the president now directly owns 160,601 shares in the company, valued at approximately $11,576,120.08. The trade was a 3.96 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Linford sold 400,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $68.99, for a total value of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares in the company, valued at approximately $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,339,564 shares of company stock valued at $87,252,461. 12.41% of the stock is currently owned by corporate insiders.

Affirm Stock Performance

Shares of AFRM stock opened at $61.75 on Friday. Affirm Holdings, Inc. has a 52 week low of $22.25 and a 52 week high of $73.34. 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 business has a 50 day moving average of $62.98 and a two-hundred day moving average of $48.86. The company has a market cap of $19.39 billion, a P/E ratio of -43.49 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. As a group, analysts anticipate that Affirm Holdings, Inc. will post -0.62 EPS for the current year.

Analyst Upgrades and Downgrades

AFRM has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Jefferies Financial Group raised shares of Affirm from a “hold” rating to a “buy” rating and lifted their price target for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Wednesday, January 22nd. The Goldman Sachs Group upped their target price on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Bank of America upped their price objective on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average target price of $62.88.

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.