Korea Investment CORP Invests $7.12 Million in Affirm Holdings, Inc. $AFRM

Korea Investment CORP purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 97,418 shares of the company’s stock, valued at approximately $7,119,000.

A number of other hedge funds have also modified their holdings of the company. Assetmark Inc. grew its holdings in Affirm by 111.3% during the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the period. Mather Group LLC. acquired a new stake in Affirm in the third quarter worth $29,000. Quent Capital LLC acquired a new stake in Affirm in the third quarter worth $43,000. Allworth Financial LP boosted its position in shares of Affirm by 41.9% during the second quarter. Allworth Financial LP now owns 799 shares of the company’s stock worth $55,000 after purchasing an additional 236 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Affirm by 131.1% during the third quarter. CI Investments Inc. now owns 929 shares of the company’s stock worth $68,000 after purchasing an additional 527 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on AFRM. Citigroup restated a “market outperform” rating on shares of Affirm in a research report on Tuesday, February 24th. Susquehanna reiterated a “positive” rating and set a $100.00 target price on shares of Affirm in a report on Friday, February 6th. Robert W. Baird started coverage on Affirm in a research note on Thursday, February 19th. They issued a “neutral” rating and a $55.00 target price for the company. Royal Bank Of Canada lowered their price target on Affirm from $87.00 to $77.00 and set a “sector perform” rating for the company in a report on Friday, February 6th. Finally, Needham & Company LLC dropped their price target on Affirm from $100.00 to $85.00 and set a “buy” rating on the stock in a research report on Friday, February 6th. Twenty analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $84.36.

Insider Buying and Selling

In other Affirm news, CFO Robert O’hare sold 36,401 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer owned 1,368 shares in the company, valued at approximately $109,440. The trade was a 96.38% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Max R. Levchin sold 666,666 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were 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 currently owned by company insiders.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $46.38 on Friday. The company has a fifty day moving average price of $61.25 and a 200 day moving average price of $70.52. The firm has a market cap of $15.45 billion, a PE ratio of 57.26, a PEG ratio of 1.86 and a beta of 3.61. The company has a current ratio of 11.41, a quick ratio of 11.41 and a debt-to-equity ratio of 2.58. Affirm Holdings, Inc. has a 1-year low of $30.90 and a 1-year high of $100.00.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, February 5th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.09. The firm had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.06 billion. Affirm had a return on equity of 8.83% and a net margin of 7.60%.The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same quarter last year, the business posted $0.23 EPS. Research analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Affirm 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.