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

QRG Capital Management Inc. lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 3.1% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 102,134 shares of the company’s stock after selling 3,262 shares during the period. QRG Capital Management Inc.’s holdings in Affirm were worth $3,085,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of AFRM. Raymond James & Associates increased its holdings in shares of Affirm by 43.5% in the fourth quarter. Raymond James & Associates now owns 30,440 shares of the company’s stock worth $1,496,000 after buying an additional 9,222 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Affirm in the fourth quarter worth about $1,698,000. DekaBank Deutsche Girozentrale bought a new stake in shares of Affirm in the fourth quarter worth about $135,000. Sequoia Financial Advisors LLC bought a new stake in shares of Affirm in the fourth quarter worth about $1,156,000. Finally, Aspiriant LLC bought a new stake in shares of Affirm in the fourth quarter worth about $248,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AFRM. BMO Capital Markets cut their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $43.00 price objective on shares of Affirm in a research report on Friday, May 24th. JMP Securities began coverage on Affirm in a research report on Friday, June 28th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. raised Affirm from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $43.00 in a research report on Thursday, May 9th. Finally, Bank of America raised Affirm from a “neutral” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, July 30th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus price target of $32.85.

Affirm Stock Up 0.9 %

NASDAQ AFRM traded up $0.23 during mid-day trading on Friday, reaching $25.44. The stock had a trading volume of 4,959,717 shares, compared to its average volume of 8,163,484. Affirm Holdings, Inc. has a 1 year low of $13.67 and a 1 year high of $52.48. The stock has a market cap of $7.86 billion, a PE ratio of -11.41 and a beta of 3.45. The company has a fifty day moving average price of $29.43 and a 200 day moving average price of $33.52. The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company had revenue of $576.00 million during the quarter, compared to analyst estimates of $549.99 million. During the same period in the previous year, the business earned ($0.69) EPS. The firm’s revenue for the quarter was up 51.2% on a year-over-year basis. On average, research analysts expect that Affirm Holdings, Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the sale, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The sale was disclosed in a document filed with the SEC, which is available through this link. 13.05% of the stock is owned by company insiders.

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.