QRG Capital Management Inc. Cuts Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

QRG Capital Management Inc. lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 101,450 shares of the company’s stock after selling 684 shares during the quarter. QRG Capital Management Inc.’s holdings in Affirm were worth $4,141,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Ridgewood Investments LLC bought a new stake in shares of Affirm in the second quarter worth about $27,000. ORG Wealth Partners LLC purchased a new position in Affirm during the 3rd quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC increased its stake in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares during the last quarter. ORG Partners LLC raised its holdings in shares of Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after acquiring an additional 551 shares in the last quarter. Finally, Plato Investment Management Ltd boosted its position in shares of Affirm by 255.1% during the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock valued at $49,000 after acquiring an additional 954 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 82,316 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 102,800 shares of company stock valued at $4,554,288. 12.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on AFRM. The Goldman Sachs Group boosted their price target on shares of Affirm from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Mizuho restated an “outperform” rating and set a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Bank of America lifted their price target on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research report on Thursday, August 29th. Susquehanna assumed coverage on Affirm in a research report on Friday, September 20th. They set a “positive” rating and a $52.00 price objective on the stock. Finally, BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $43.08.

Affirm Price Performance

Affirm stock opened at $50.00 on Thursday. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The stock has a market cap of $15.56 billion, a price-to-earnings ratio of -29.76 and a beta of 3.47. The firm has a 50-day moving average of $42.42 and a two-hundred day moving average of $34.55. Affirm Holdings, Inc. has a 1 year low of $20.20 and a 1 year high of $52.48.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. The firm had revenue of $659.19 million during the quarter, compared to analyst estimates of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. On average, research analysts forecast that Affirm Holdings, Inc. will post -0.62 earnings per share for the current year.

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.