Jericho Capital Asset Management L.P. Buys 251,000 Shares of Affirm Holdings, Inc. $AFRM

Jericho Capital Asset Management L.P. grew its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 7.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,601,248 shares of the company’s stock after acquiring an additional 251,000 shares during the period. Affirm comprises 3.1% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 13th biggest position. Jericho Capital Asset Management L.P. owned approximately 1.08% of Affirm worth $268,041,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of Affirm by 111.3% during the 3rd quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares during the period. Greenline Wealth Management LLC bought a new position in shares of Affirm during the 4th quarter worth $26,000. Triumph Capital Management bought a new position in shares of Affirm during the 3rd quarter worth $31,000. CoreCap Advisors LLC grew its stake in shares of Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after acquiring an additional 358 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after acquiring an additional 213 shares during the period. 69.29% of the stock is owned by institutional investors.

Insider Activity at Affirm

In other news, Director Noel Bertram Watson sold 2,000 shares of the business’s stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total transaction of $130,000.00. Following the completion of the transaction, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. The trade was a 5.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Affirm Stock Down 5.3%

Shares of NASDAQ AFRM opened at $70.73 on Thursday. The business has a 50-day simple moving average of $64.54 and a two-hundred day simple moving average of $62.43. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The company has a market cap of $23.69 billion, a P/E ratio of 64.30, a P/E/G ratio of 4.30 and a beta of 3.70.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same period last year, the firm earned $0.01 EPS. The business’s quarterly revenue was up 32.7% compared to the same quarter last year. Research analysts anticipate that Affirm Holdings, Inc. will post 1.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on AFRM. Citizens Jmp cut their price target on Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research note on Friday, April 17th. Compass Point reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Affirm in a report on Wednesday, February 18th. Oppenheimer reaffirmed an “outperform” rating and issued a $87.00 price objective on shares of Affirm in a report on Friday, May 8th. Truist Financial raised their price objective on shares of Affirm from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Finally, Bank of America raised their price objective on shares of Affirm from $82.00 to $88.00 and gave the stock a “buy” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $86.20.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.