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

QRG Capital Management Inc. lowered its position in Affirm Holdings, Inc. (NASDAQ:AFRM) by 47.9% in the 4th quarter, HoldingsChannel reports. The fund owned 52,886 shares of the company’s stock after selling 48,564 shares during the period. QRG Capital Management Inc.’s holdings in Affirm were worth $3,221,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Spyglass Capital Management LLC lifted its position in shares of Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Affirm by 0.6% during the 4th quarter. Bank of New York Mellon Corp now owns 885,097 shares of the company’s stock valued at $53,902,000 after purchasing an additional 5,169 shares during the period. Artemis Investment Management LLP lifted its holdings in Affirm by 2.1% during the 4th quarter. Artemis Investment Management LLP now owns 770,245 shares of the company’s stock worth $46,908,000 after purchasing an additional 15,517 shares in the last quarter. Finally, Bank of Montreal Can boosted its stake in Affirm by 269.7% in the 3rd quarter. Bank of Montreal Can now owns 724,336 shares of the company’s stock worth $29,814,000 after purchasing an additional 528,400 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on AFRM. Barclays upped their price target on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. William Blair started coverage on shares of Affirm in a research note on Wednesday, January 15th. They issued an “outperform” rating on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday, December 16th. Morgan Stanley upped their price target on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 28th. Finally, Royal Bank of Canada lifted their price objective on Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research note on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.24.

Insider Transactions at Affirm

In related news, President Libor Michalek sold 6,629 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total transaction of $477,818.32. Following the transaction, the president now directly owns 160,601 shares in the company, valued at $11,576,120.08. This trade represents a 3.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O’hare sold 13,965 shares of Affirm stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $68.57, for a total value of $957,580.05. Following the completion of the transaction, the chief financial officer now directly owns 668 shares in the company, valued at $45,804.76. This trade represents a 95.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 576,264 shares of company stock worth $39,820,791. Company insiders own 12.41% of the company’s stock.

Affirm Stock Up 4.0 %

Shares of NASDAQ AFRM opened at $64.15 on Friday. The stock has a market capitalization of $20.40 billion, a P/E ratio of -98.69 and a beta of 3.66. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53. The firm’s 50 day simple moving average is $64.32 and its two-hundred day simple moving average is $54.24. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26.

Affirm (NASDAQ:AFRM) last issued its earnings results on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

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.