Jefferies Financial Group Inc. Grows Stake in Affirm Holdings, Inc. $AFRM

Key Points

• Jefferies Financial Group boosted its stake in Affirm by 1,161.2% in Q3 to 171,269 shares (about $12.52M), while institutional investors collectively own roughly 69.29% of the company.
• CEO Max R. Levchin sold 666,666 shares at an average ~$80.62 (≈$53.75M) and CFO Robert O'Hare sold 36,401 shares, with corporate insiders owning about 11.01% of the stock.
• Affirm beat quarterly estimates—EPS $0.37 vs. $0.28 and revenue $1.12B (up 29.6% YoY)—and Wall Street holds a consensus rating of Moderate Buy with a $84.36 price target.

Jefferies Financial Group Inc. grew its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1,161.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,269 shares of the company's stock after acquiring an additional 157,689 shares during the quarter. Jefferies Financial Group Inc. owned about 0.05% of Affirm worth $12,516,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of AFRM. Assetmark Inc. boosted its stake in Affirm by 111.3% in the 3rd quarter. Assetmark Inc. now owns 338 shares of the company's stock worth $25,000 after purchasing an additional 178 shares in the last quarter. Huntington National Bank increased its stake in Affirm by 634.0% during the 2nd quarter. Huntington National Bank now owns 389 shares of the company's stock valued at $27,000 after purchasing an additional 336 shares in the last quarter. Mather Group LLC. bought a new stake in Affirm during the 3rd quarter valued at about $29,000. SouthState Corp raised its holdings in Affirm by 190.5% in the second quarter. SouthState Corp now owns 427 shares of the company's stock worth $30,000 after buying an additional 280 shares during the last quarter. Finally, Quent Capital LLC bought a new position in shares of Affirm in the third quarter worth approximately $43,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America started coverage on shares of Affirm in a report on Thursday. They set a "buy" rating and a $82.00 price target on the stock. Morgan Stanley reaffirmed an "overweight" rating on shares of Affirm in a research report on Wednesday. Wolfe Research initiated coverage on Affirm in a research note on Tuesday, December 9th. They set a "peer perform" rating on the stock. Mizuho reduced their target price on Affirm from $114.00 to $95.00 and set an "outperform" rating for the company in a report on Monday, February 9th. Finally, Stephens decreased their price target on Affirm from $75.00 to $65.00 and set an "equal weight" rating for the company in a research note on Friday, February 6th. Twenty investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.36.

Insider Buying and Selling at Affirm

In other news, CFO Robert O'hare sold 36,401 shares of the firm's stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.00, for a total value of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at $109,440. This trade represents a 96.38% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction on Monday, January 5th. The stock was sold at an average price of $80.62, for a total value of $53,746,612.92. The disclosure for this sale is available in the SEC filing. 11.01% of the stock is owned by corporate insiders.

Affirm Stock Down 1.5%

AFRM opened at $51.70 on Monday. The stock has a market capitalization of $17.22 billion, a price-to-earnings ratio of 63.83, a PEG ratio of 1.89 and a beta of 3.61. The firm has a 50 day moving average price of $63.30 and a 200-day moving average price of $71.21. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The company has a quick ratio of 11.41, a current ratio of 11.41 and a debt-to-equity ratio of 2.58.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.12 billion for the quarter, compared to analysts' expectations of $1.06 billion. During the same quarter last year, the company posted $0.23 earnings per share. The firm's quarterly revenue was up 29.6% on a year-over-year basis. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.18 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.

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