Affirm Holdings, Inc. $AFRM Shares Acquired by Lord Abbett & CO. LLC

Key Points

• Lord Abbett & CO. LLC significantly increased its stake in Affirm Holdings, Inc. by 1,137.5%, now holding 1,282,663 shares valued at approximately $57.96 million.
• Multiple analysts provided mixed ratings for Affirm, with JPMorgan Chase lowering its target price from $74.00 to $69.00 while maintaining an "overweight" rating.
• Shares of Affirm have shown volatility, with a 52-week low of $27.20 and a high of $82.53, currently trading around $77.02.

Lord Abbett & CO. LLC grew its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1,137.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,282,663 shares of the company's stock after buying an additional 1,179,016 shares during the quarter. Lord Abbett & CO. LLC owned 0.40% of Affirm worth $57,964,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Research Global Investors boosted its stake in shares of Affirm by 2.0% in the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company's stock valued at $1,477,747,000 after purchasing an additional 470,409 shares in the last quarter. Vanguard Group Inc. grew its position in 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. Capital World Investors grew its position in Affirm by 0.4% in the 4th quarter. Capital World Investors now owns 18,339,165 shares of the company's stock valued at $1,116,861,000 after purchasing an additional 72,582 shares during the period. Durable Capital Partners LP boosted its holdings in Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock worth $356,769,000 after acquiring an additional 2,888,827 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. boosted its holdings in Affirm by 11.6% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company's stock worth $316,561,000 after acquiring an additional 538,892 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Insider Transactions at Affirm

In other Affirm news, Director Christa S. Quarles sold 754 shares of Affirm stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total value of $50,842.22. Following the sale, the director owned 137,241 shares of the company's stock, valued at $9,254,160.63. The trade was a 0.55% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Noel Bertram Watson sold 2,500 shares of the business's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $60.86, for a total value of $152,150.00. Following the transaction, the director directly owned 36,497 shares in the company, valued at approximately $2,221,207.42. This represents a 6.41% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 163,114 shares of company stock valued at $11,825,169. Company insiders own 11.82% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AFRM. Stephens began coverage on Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 price objective on the stock. JMP Securities decreased their price target on Affirm from $85.00 to $75.00 and set a "market outperform" rating on the stock in a research report on Friday, May 9th. Truist Financial boosted their price objective on Affirm from $58.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. Morgan Stanley dropped their price objective on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Oppenheimer set a $80.00 price objective on Affirm and gave the company an "outperform" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and eleven have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Affirm presently has a consensus rating of "Moderate Buy" and an average price target of $68.74.

Affirm Stock Performance

Shares of Affirm stock traded down $4.0380 during trading on Tuesday, hitting $74.2020. 4,300,633 shares of the company's stock traded hands, compared to its average volume of 7,074,750. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. Affirm Holdings, Inc. has a 1 year low of $28.47 and a 1 year high of $82.53. The stock has a market capitalization of $23.94 billion, a P/E ratio of -353.41, a PEG ratio of 2.92 and a beta of 3.63. The business has a 50-day simple moving average of $68.16 and a 200-day simple moving average of $58.53.

Affirm Profile

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.