Assetmark Inc. Grows Stock Holdings in Affirm Holdings, Inc. $AFRM

Assetmark Inc. raised its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 2,876.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 10,059 shares of the company’s stock after acquiring an additional 9,721 shares during the period. Assetmark Inc.’s holdings in Affirm were worth $749,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Mather Group LLC. purchased a new position in Affirm during the third quarter worth about $29,000. Triumph Capital Management acquired a new stake in Affirm in the 3rd quarter worth about $31,000. CoreCap Advisors LLC grew its holdings in Affirm by 431.3% in the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after buying an additional 358 shares during the period. Larson Financial Group LLC grew its holdings in Affirm by 74.5% in the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after buying an additional 213 shares during the period. Finally, Quent Capital LLC acquired a new position in shares of Affirm during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on AFRM shares. JPMorgan Chase & Co. cut their price objective on shares of Affirm from $94.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. Mizuho dropped their price target on shares of Affirm from $114.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, February 9th. BMO Capital Markets started coverage on shares of Affirm in a research note on Tuesday. They set an “outperform” rating and a $75.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating on shares of Affirm in a report on Wednesday, March 4th. Finally, Bank of America assumed coverage on shares of Affirm in a research note on Thursday, March 5th. They set a “buy” rating and a $82.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.60.

Insider Buying and Selling at Affirm

In related news, Director Noel Bertram Watson sold 2,000 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $55.00, for a total transaction of $110,000.00. Following the completion of the sale, the director directly owned 38,076 shares of the company’s stock, valued at approximately $2,094,180. This represents a 4.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 11.01% of the company’s stock.

Affirm Stock Up 3.1%

AFRM opened at $66.58 on Thursday. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $100.00. The firm has a 50 day moving average price of $50.02 and a 200 day moving average price of $63.76. The company has a debt-to-equity ratio of 2.58, a quick ratio of 11.41 and a current ratio of 11.41. The company has a market cap of $22.18 billion, a PE ratio of 82.20, a price-to-earnings-growth ratio of 4.50 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.09. Affirm had a net margin of 7.60% and a return on equity of 8.83%. The firm had revenue of $1.12 billion for the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the previous year, the company posted $0.23 earnings per share. Affirm’s revenue was up 29.6% compared to the same quarter last year. Sell-side analysts expect that Affirm Holdings, Inc. will post 1.08 earnings per share for the current year.

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.