Affirm Holdings, Inc. $AFRM Shares Sold by Jericho Capital Asset Management L.P.

Key Points

• Jericho Capital Asset Management L.P. reduced its stake in Affirm Holdings, Inc. by 2.7%, selling 141,000 shares, and now holds approximately 4.2% of the company's stock.
• Notable insider selling included CEO Max R. Levchin, who sold 499,223 shares for over $40 million, alongside Director Christa S. Quarles selling 15,000 shares worth $1.4 million.
• Affirm reported a quarterly earnings per share (EPS) of $0.20, exceeding estimates, with a revenue of $876.42 million, reflecting a 32.9% increase compared to the same quarter last year.

Jericho Capital Asset Management L.P. decreased its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,057,039 shares of the company's stock after selling 141,000 shares during the period. Affirm makes up about 4.2% of Jericho Capital Asset Management L.P.'s portfolio, making the stock its 11th biggest position. Jericho Capital Asset Management L.P. owned about 1.59% of Affirm worth $228,528,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Price T Rowe Associates Inc. MD grew its position in Affirm by 140.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company's stock worth $205,350,000 after acquiring an additional 2,657,074 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company's stock valued at $1,051,707,000 after purchasing an additional 1,457,434 shares during the period. Foxhaven Asset Management LP acquired a new position in shares of Affirm in the 4th quarter valued at about $80,917,000. Voloridge Investment Management LLC acquired a new position in shares of Affirm in the 4th quarter valued at about $76,738,000. Finally, Lord Abbett & CO. LLC increased its position in Affirm by 1,137.5% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,282,663 shares of the company's stock valued at $57,964,000 after buying an additional 1,179,016 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Wall Street Analysts Forecast Growth

AFRM has been the subject of a number of research analyst reports. UBS Group boosted their target price on Affirm from $56.00 to $85.00 and gave the company a "neutral" rating in a research report on Friday, August 29th. Truist Financial upped their target price on Affirm from $58.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Rothschild & Co Redburn assumed coverage on Affirm in a research note on Friday, August 1st. They issued a "neutral" rating and a $74.00 price objective on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Affirm in a research report on Thursday, July 17th. They set a "buy" rating and a $78.00 target price on the stock. Finally, Stephens assumed coverage on shares of Affirm in a report on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $79.04.

Affirm Trading Up 3.0%

Shares of NASDAQ:AFRM traded up $2.54 during trading on Tuesday, reaching $88.42. The company's stock had a trading volume of 7,280,947 shares, compared to its average volume of 7,477,317. The company has a current ratio of 11.54, a quick ratio of 11.54 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 12 month low of $30.90 and a 12 month high of $100.00. The firm's 50 day simple moving average is $73.60 and its two-hundred day simple moving average is $59.43. The stock has a market capitalization of $28.79 billion, a PE ratio of 680.21, a price-to-earnings-growth ratio of 5.69 and a beta of 3.64.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data on Thursday, August 28th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.09. The company had revenue of $876.42 million for the quarter, compared to analyst estimates of $834.94 million. Affirm had a net margin of 1.62% and a return on equity of 1.80%. The firm's revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.14) EPS. Affirm has set its FY 2026 guidance at EPS. Q1 2026 guidance at EPS. On average, research analysts predict that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, CEO Max R. Levchin sold 499,223 shares of the business's stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $80.17, for a total transaction of $40,022,707.91. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Robert O'hare sold 31,423 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $83.30, for a total transaction of $2,617,535.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,260,497 shares of company stock valued at $101,241,354. 11.82% of the stock is owned by corporate 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.