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

Jericho Capital Asset Management L.P. trimmed its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 8.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,350,248 shares of the company’s stock after selling 311,727 shares during the quarter. 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. owned about 1.02% of Affirm worth $244,836,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Assetmark Inc. boosted its holdings 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 buying an additional 178 shares during the period. Mather Group LLC. bought a new position in Affirm in the 3rd quarter valued at about $29,000. Quent Capital LLC acquired a new stake in Affirm during the third quarter worth approximately $43,000. Allworth Financial LP lifted its position in Affirm by 41.9% during the second quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after acquiring an additional 236 shares during the last quarter. Finally, CI Investments Inc. boosted its holdings in shares of Affirm by 131.1% during the third quarter. CI Investments Inc. now owns 929 shares of the company’s stock worth $68,000 after acquiring an additional 527 shares during the period. 69.29% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Max R. Levchin sold 666,666 shares of the company’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Robert O’hare sold 36,401 shares of the stock in a transaction dated 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 sale, the chief financial officer owned 1,368 shares in the company, valued at $109,440. The trade was a 96.38% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 11.01% of the stock is currently owned by company insiders.

Affirm Trading Up 1.1%

Shares of AFRM stock opened at $46.88 on Monday. The stock has a market cap of $15.62 billion, a P/E ratio of 57.88, a price-to-earnings-growth ratio of 1.72 and a beta of 3.61. Affirm Holdings, Inc. has a 1 year low of $30.90 and a 1 year high of $100.00. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. The stock has a 50 day simple moving average of $60.71 and a 200 day simple moving average of $70.20.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, February 5th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.09. The firm had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Analyst Ratings Changes

AFRM has been the topic of a number of recent research reports. TD Cowen reiterated a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Evercore restated an “outperform” rating on shares of Affirm in a research note on Tuesday, December 16th. Susquehanna reaffirmed a “positive” rating and issued a $100.00 price objective on shares of Affirm in a report on Friday, February 6th. Robert W. Baird began coverage on Affirm in a research report on Thursday, February 19th. They set a “neutral” rating and a $55.00 price objective on the stock. Finally, Compass Point reissued a “buy” rating and issued a $68.00 target price on shares of Affirm in a research report on Wednesday, February 18th. Twenty equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $84.36.

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.