Jericho Capital Asset Management L.P. Increases Position in Affirm Holdings, Inc. $AFRM

Jericho Capital Asset Management L.P. increased its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 7.5% in the 4th quarter, Holdings Channel reports. The fund owned 3,601,248 shares of the company’s stock after buying an additional 251,000 shares during the quarter. Affirm comprises about 3.1% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 13th largest position. Jericho Capital Asset Management L.P.’s holdings in Affirm were worth $268,041,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Assetmark Inc. grew its position in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock worth $25,000 after acquiring an additional 178 shares in the last quarter. Mount Vernon Associates Inc. MD boosted its stake in Affirm by 0.5% in the fourth quarter. Mount Vernon Associates Inc. MD now owns 42,925 shares of the company’s stock worth $3,195,000 after buying an additional 200 shares in the last quarter. Fifth Third Bancorp boosted its stake in Affirm by 63.6% in the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock worth $39,000 after buying an additional 203 shares in the last quarter. Rakuten Securities Inc. boosted its stake in Affirm by 1.3% in the fourth quarter. Rakuten Securities Inc. now owns 16,622 shares of the company’s stock worth $1,237,000 after buying an additional 206 shares in the last quarter. Finally, UMB Bank n.a. boosted its stake in Affirm by 36.6% in the fourth quarter. UMB Bank n.a. now owns 783 shares of the company’s stock worth $58,000 after buying an additional 210 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director owned 36,076 shares of the company’s stock, valued at $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on AFRM. Oppenheimer reaffirmed an “outperform” rating and issued a $87.00 target price on shares of Affirm in a research note on Friday, May 8th. BMO Capital Markets began coverage on shares of Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 price target for the company. Citizens Jmp cut their price target on shares of Affirm from $105.00 to $85.00 and set a “market outperform” rating for the company in a research report on Friday, April 17th. The Goldman Sachs Group lowered shares of Affirm from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Finally, Morgan Stanley set a $79.00 price objective on Affirm and gave the company an “overweight” rating in a research note on Sunday, May 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

Affirm Stock Performance

Affirm stock opened at $70.73 on Thursday. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The firm has a 50-day moving average of $64.54 and a 200-day moving average of $62.43. The firm 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 Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The company had revenue of $943.95 million during the quarter, compared to analyst estimates of $995.27 million. During the same quarter last year, the firm posted $0.01 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. Sell-side analysts expect that Affirm Holdings, Inc. will post 1.25 EPS for the current year.

Affirm 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.