Connective Capital Management LLC Invests $946,000 in Affirm Holdings, Inc. $AFRM

Key Points

• Connective Capital Management LLC invested approximately $946,000 in Affirm Holdings, acquiring 20,937 shares, which now represents 0.9% of its portfolio.
• Affirm's stock has a market capitalization of $25.64 billion with a recent trading range between a one year low of $30.02 and a one year high of $82.53.
• In recent insider activity, Chief Accounting Officer Siphelele Jiyane sold 15,871 shares totaling about $1.19 million, while COO Michael Linford sold 184,200 shares for approximately $14.75 million.

Connective Capital Management LLC purchased a new position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 20,937 shares of the company's stock, valued at approximately $946,000. Affirm accounts for about 0.9% of Connective Capital Management LLC's portfolio, making the stock its 25th largest holding.

Several other institutional investors have also modified their holdings of the stock. Comerica Bank raised its holdings in shares of Affirm by 5.5% during the 1st quarter. Comerica Bank now owns 5,513 shares of the company's stock worth $249,000 after acquiring an additional 287 shares during the period. Quantitative Investment Management LLC purchased a new position in shares of Affirm during the 1st quarter worth $532,000. Jump Financial LLC raised its holdings in Affirm by 106.1% in the 1st quarter. Jump Financial LLC now owns 327,605 shares of the company's stock valued at $14,804,000 after buying an additional 168,632 shares during the period. SVB Wealth LLC purchased a new stake in Affirm in the 1st quarter valued at about $47,000. Finally, AlphaQuest LLC raised its holdings in Affirm by 352.6% in the 1st quarter. AlphaQuest LLC now owns 2,815 shares of the company's stock valued at $127,000 after buying an additional 2,193 shares during the period. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Stock Performance

Shares of Affirm stock opened at $79.49 on Monday. Affirm Holdings, Inc. has a one year low of $30.02 and a one year high of $82.53. The company has a market cap of $25.64 billion, a PE ratio of -378.52, a P/E/G ratio of 2.95 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The business has a 50-day simple moving average of $69.28 and a 200-day simple moving average of $58.92.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AFRM. BTIG Research lowered shares of Affirm from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Royal Bank Of Canada boosted their price objective on shares of Affirm from $70.00 to $75.00 and gave the company a "sector perform" rating in a report on Tuesday, July 8th. Rothschild & Co Redburn began coverage on shares of Affirm in a report on Friday, August 1st. They issued a "neutral" rating and a $74.00 price objective on the stock. Barclays boosted their price objective on shares of Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Finally, Truist Financial boosted their price target on shares of Affirm from $58.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Affirm has an average rating of "Moderate Buy" and an average price target of $68.74.

Insider Buying and Selling at Affirm

In other news, CAO Siphelele Jiyane sold 15,871 shares of the business's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $75.00, for a total transaction of $1,190,325.00. Following the completion of the transaction, the chief accounting officer directly owned 242,192 shares of the company's stock, valued at approximately $18,164,400. The trade was a 6.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Michael Linford sold 184,200 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $80.09, for a total value of $14,752,578.00. Following the completion of the transaction, the chief operating officer directly owned 109,840 shares of the company's stock, valued at $8,797,085.60. This trade represents a 62.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 629,715 shares of company stock valued at $49,194,321. 11.82% of the stock is currently owned by company insiders.

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.

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