Jupiter Asset Management Ltd. Invests $20.15 Million in Affirm Holdings, Inc. (NASDAQ:AFRM)

Jupiter Asset Management Ltd. purchased a new position in Affirm Holdings, Inc. (NASDAQ:AFRM) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 540,796 shares of the company’s stock, valued at approximately $20,150,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AFRM. Vanguard Group Inc. lifted its position in shares of Affirm by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 18,737,059 shares of the company’s stock worth $398,537,000 after purchasing an additional 213,421 shares during the period. Diversified Trust Co acquired a new position in shares of Affirm during the 4th quarter valued at $228,000. Creative Financial Designs Inc. ADV lifted its position in shares of Affirm by 82.2% during the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the period. Whittier Trust Co. lifted its position in shares of Affirm by 9,900.0% during the 4th quarter. Whittier Trust Co. now owns 1,500 shares of the company’s stock valued at $74,000 after acquiring an additional 1,485 shares during the period. Finally, HB Wealth Management LLC acquired a new position in shares of Affirm during the 4th quarter valued at $349,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on AFRM shares. The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 target price on shares of Affirm in a research report on Monday, June 24th. BMO Capital Markets dropped their target price on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada reiterated a “sector perform” rating and set a $43.00 target price on shares of Affirm in a research report on Friday, May 24th. JPMorgan Chase & Co. upgraded shares of Affirm from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Finally, Barclays lowered their price objective on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $32.66.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.89, for a total transaction of $277,259.64. Following the sale, the director now directly owns 73,623 shares of the company’s stock, valued at $2,200,591.47. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.05% of the stock is owned by company insiders.

Affirm Stock Performance

AFRM traded down $0.90 during trading on Friday, hitting $29.96. 4,199,479 shares of the company traded hands, compared to its average volume of 6,724,052. The firm has a market cap of $9.26 billion, a P/E ratio of -13.43 and a beta of 3.45. The stock’s fifty day moving average is $30.80 and its 200 day moving average is $35.21. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm Holdings, Inc. has a one year low of $13.67 and a one year high of $52.48.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.27. The company had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.69) earnings per share. As a group, equities analysts predict that Affirm Holdings, Inc. will post -1.98 EPS for the current fiscal year.

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.