RJA Asset Management LLC Acquires Shares of 397,425 Affirm Holdings, Inc. (NASDAQ:AFRM)

RJA Asset Management LLC purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 397,425 shares of the company’s stock, valued at approximately $14,808,000. Affirm makes up about 5.0% of RJA Asset Management LLC’s holdings, making the stock its 2nd biggest position. RJA Asset Management LLC owned approximately 0.13% of Affirm at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of AFRM. PNC Financial Services Group Inc. lifted its holdings in shares of Affirm by 1.7% in the third quarter. PNC Financial Services Group Inc. now owns 47,378 shares of the company’s stock worth $1,008,000 after buying an additional 793 shares in the last quarter. Northern Trust Corp increased its position in shares of Affirm by 3.1% in the third quarter. Northern Trust Corp now owns 1,002,905 shares of the company’s stock worth $21,332,000 after purchasing an additional 30,552 shares during the last quarter. Algert Global LLC bought a new position in shares of Affirm in the third quarter worth approximately $894,000. Trexquant Investment LP increased its position in shares of Affirm by 79.1% in the third quarter. Trexquant Investment LP now owns 395,889 shares of the company’s stock worth $8,421,000 after purchasing an additional 174,807 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Affirm by 0.5% in the third quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock worth $2,032,000 after purchasing an additional 480 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the sale, the director now directly owns 60,000 shares in the company, valued at approximately $1,927,200. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 13.05% of the stock is owned by corporate insiders.

Affirm Price Performance

Shares of AFRM traded down $0.31 during trading hours on Thursday, hitting $31.10. The company had a trading volume of 3,648,801 shares, compared to its average volume of 8,620,272. The firm has a fifty day moving average price of $31.81 and a 200-day moving average price of $37.21. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. Affirm Holdings, Inc. has a 52-week low of $12.81 and a 52-week high of $52.48.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping the consensus estimate of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same period last year, the company earned ($0.69) EPS. Affirm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts forecast that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on AFRM. JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $41.00 to $43.00 in a research report on Thursday, May 9th. Barclays reduced their price target on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated a “sector perform” rating and set a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. BTIG Research began coverage on shares of Affirm in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $42.00 target price on shares of Affirm in a report on Monday. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $32.66.

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.