Jericho Capital Asset Management L.P. Has $244.84 Million Stock Position in Affirm Holdings, Inc. $AFRM

Jericho Capital Asset Management L.P. cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,350,248 shares of the company’s stock after selling 311,727 shares during the period. Affirm comprises approximately 2.5% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 16th biggest position. Jericho Capital Asset Management L.P.’s holdings in Affirm were worth $244,836,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Yousif Capital Management LLC increased its stake in shares of Affirm by 5.1% in the 3rd quarter. Yousif Capital Management LLC now owns 3,243 shares of the company’s stock valued at $237,000 after purchasing an additional 158 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Affirm by 13.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company’s stock worth $108,000 after buying an additional 171 shares during the last quarter. Assetmark Inc. boosted its stake in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares in the last quarter. GAMMA Investing LLC boosted its stake in Affirm by 4.4% in the third quarter. GAMMA Investing LLC now owns 4,850 shares of the company’s stock valued at $354,000 after buying an additional 206 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its position in Affirm by 3.5% in the third quarter. Apollon Wealth Management LLC now owns 6,335 shares of the company’s stock valued at $463,000 after acquiring an additional 212 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Insider Buying and Selling at Affirm

In other news, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the completion of the sale, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. 11.01% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AFRM. Royal Bank Of Canada dropped their target price on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Robert W. Baird assumed coverage on shares of Affirm in a report on Thursday, February 19th. They set a “neutral” rating and a $55.00 price target on the stock. TD Cowen reiterated a “buy” rating on shares of Affirm in a research report on Friday, February 6th. Stephens dropped their price objective on shares of Affirm from $75.00 to $65.00 and set an “equal weight” rating for the company in a research note on Friday, February 6th. Finally, The Goldman Sachs Group lowered shares of Affirm from a “buy” rating to a “hold” rating in a research report on Tuesday, February 24th. Twenty analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, Affirm has an average rating of “Moderate Buy” and a consensus target price of $84.36.

Affirm Stock Performance

Shares of AFRM stock opened at $46.88 on Monday. The business’s 50-day moving average price is $60.71 and its 200-day moving average price is $70.20. Affirm Holdings, Inc. has a 12 month low of $30.90 and a 12 month high of $100.00. The firm has a market capitalization of $15.62 billion, a price-to-earnings ratio of 57.88, a PEG ratio of 1.72 and a beta of 3.61. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the company earned $0.23 EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 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.