Korea Investment CORP Purchases Shares of 97,418 Affirm Holdings, Inc. $AFRM

Korea Investment CORP acquired a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, HoldingsChannel.com reports. The firm acquired 97,418 shares of the company’s stock, valued at approximately $7,119,000.

Several other hedge funds also recently modified their holdings of the stock. Assetmark Inc. increased its position in shares of Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after acquiring an additional 178 shares during the last quarter. Mather Group LLC. acquired a new position in Affirm during the third quarter valued at approximately $29,000. Quent Capital LLC acquired a new position in Affirm during the third quarter valued at approximately $43,000. Allworth Financial LP grew its stake in Affirm by 41.9% in the second quarter. Allworth Financial LP now owns 799 shares of the company’s stock valued at $55,000 after purchasing an additional 236 shares in the last quarter. Finally, CI Investments Inc. grew its stake in Affirm by 131.1% in the third quarter. CI Investments Inc. now owns 929 shares of the company’s stock valued at $68,000 after purchasing an additional 527 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In other news, CFO Robert O’hare sold 36,401 shares of the firm’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total transaction of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $109,440. This trade represents a 96.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred 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 SEC filing for this sale provides additional information. Insiders own 11.01% of the company’s stock.

Affirm Stock Down 8.7%

AFRM stock opened at $46.38 on Friday. Affirm Holdings, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $100.00. The company has a debt-to-equity ratio of 2.58, a current ratio of 11.41 and a quick ratio of 11.41. The stock has a market capitalization of $15.45 billion, a price-to-earnings ratio of 57.26, a PEG ratio of 1.86 and a beta of 3.61. The business’s fifty day moving average price is $61.25 and its two-hundred day moving average price is $70.52.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 EPS for the quarter, beating 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 in the prior year, the company posted $0.23 earnings per share. Affirm’s revenue was up 29.6% compared to the same quarter last year. On average, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on AFRM shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $85.00 price objective on shares of Affirm in a research note on Monday, February 9th. Royal Bank Of Canada decreased their target price on shares of Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a research note on Friday, February 6th. Citigroup restated a “market outperform” rating on shares of Affirm in a report on Tuesday, February 24th. Truist Financial dropped their price target on shares of Affirm from $85.00 to $71.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Affirm from $94.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Twenty research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Affirm 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.