RJA Asset Management LLC Decreases Stock Holdings in Affirm Holdings, Inc. $AFRM

RJA Asset Management LLC lessened its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 84.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,500 shares of the company’s stock after selling 468,327 shares during the quarter. Affirm makes up 2.4% of RJA Asset Management LLC’s portfolio, making the stock its 3rd largest holding. RJA Asset Management LLC’s holdings in Affirm were worth $6,248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AFRM. Royal Bank of Canada raised its holdings in Affirm by 2.1% in the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after purchasing an additional 3,892 shares during the period. Empowered Funds LLC increased its position in Affirm by 90.7% in the first quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after buying an additional 8,014 shares in the last quarter. Focus Partners Wealth purchased a new stake in Affirm in the first quarter worth about $243,000. Wealthfront Advisers LLC raised its stake in shares of Affirm by 11.1% in the second quarter. Wealthfront Advisers LLC now owns 6,088 shares of the company’s stock worth $421,000 after buying an additional 610 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in shares of Affirm by 1.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 186,418 shares of the company’s stock valued at $12,889,000 after buying an additional 1,986 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Stock Down 6.8%

Shares of NASDAQ AFRM opened at $46.98 on Monday. 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 Holdings, Inc. has a 12-month low of $30.90 and a 12-month high of $100.00. The firm’s 50-day moving average price is $65.94 and its 200-day moving average price is $72.13. The stock has a market capitalization of $15.65 billion, a price-to-earnings ratio of 58.00, a P/E/G ratio of 1.72 and a beta of 3.61.

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

Insiders Place Their Bets

In other news, CEO Max R. Levchin sold 666,666 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $80.62, for a total value of $53,746,612.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert O’hare sold 36,401 shares of the firm’s 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 completion of the sale, the chief financial officer owned 1,368 shares of the company’s stock, valued at $109,440. This trade represents a 96.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 711,256 shares of company stock valued at $57,231,923. 11.01% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

AFRM has been the subject of a number of analyst reports. TD Cowen reissued a “buy” rating on shares of Affirm in a research note on Friday, February 6th. Wolfe Research assumed coverage on Affirm in a research report on Tuesday, December 9th. They set a “peer perform” rating for the company. Compass Point restated a “buy” rating and issued a $68.00 price target on shares of Affirm in a research note on Wednesday, February 18th. Oppenheimer reduced their price objective on shares of Affirm from $95.00 to $83.00 and set an “outperform” rating on the stock in a research report on Friday, February 6th. Finally, Susquehanna reiterated a “positive” rating and issued a $100.00 price target on shares of Affirm in a research note on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

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.