QRG Capital Management Inc. Sells 3,262 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

QRG Capital Management Inc. trimmed its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 3.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,134 shares of the company’s stock after selling 3,262 shares during the quarter. QRG Capital Management Inc.’s holdings in Affirm were worth $3,085,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Raleigh Capital Management Inc. bought a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Global Wealth Strategies & Associates boosted its stake in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after purchasing an additional 470 shares during the period. Principal Securities Inc. bought a new stake in Affirm in the 4th quarter valued at $49,000. Plato Investment Management Ltd boosted its stake in Affirm by 255.1% in the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock valued at $49,000 after purchasing an additional 954 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Affirm by 117.9% in the 4th quarter. Lindbrook Capital LLC now owns 1,386 shares of the company’s stock valued at $68,000 after purchasing an additional 750 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now owns 64,348 shares in the company, valued at approximately $1,730,961.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.05% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on AFRM. Bank of America upgraded Affirm from a “neutral” rating to a “buy” rating and set a $36.00 price target for the company in a research note on Tuesday, July 30th. Barclays reduced their price target on Affirm from $50.00 to $41.00 and set an “overweight” rating for the company in a research note on Tuesday, April 16th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Mizuho reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Affirm in a report on Thursday, June 20th. Finally, BTIG Research initiated coverage on Affirm in a report on Friday, June 7th. They issued a “neutral” rating for the company. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Affirm has an average rating of “Hold” and a consensus price target of $32.85.

Affirm Price Performance

AFRM traded up $0.23 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 fifty-two week low of $13.67 and a fifty-two week high of $52.48. The firm has a 50-day moving average of $29.43 and a 200-day moving average of $33.52. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43. The company has a market capitalization of $7.86 billion, a price-to-earnings ratio of -11.41 and a beta of 3.45.

Affirm (NASDAQ:AFRM) last issued its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The business had revenue of $576.00 million during the quarter, compared to analysts’ expectations of $549.99 million. During the same quarter in the prior year, the firm earned ($0.69) EPS. The business’s revenue for the quarter was up 51.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affirm Holdings, Inc. will post -1.98 EPS for the current year.

Affirm Company 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.