QRG Capital Management Inc. Decreases Stock Position in Affirm Holdings, Inc. $AFRM

QRG Capital Management Inc. trimmed its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 70.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,870 shares of the company’s stock after selling 21,163 shares during the quarter. QRG Capital Management Inc.’s holdings in Affirm were worth $648,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB boosted its stake in Affirm by 442.9% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 6,336 shares of the company’s stock worth $463,000 after purchasing an additional 5,169 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Affirm in the third quarter worth about $4,538,000. Rakuten Securities Inc. boosted its position in Affirm by 119.8% during the third quarter. Rakuten Securities Inc. now owns 16,416 shares of the company’s stock worth $1,200,000 after acquiring an additional 8,948 shares during the last quarter. Kera Capital Partners Inc. grew its stake in Affirm by 37.7% during the 3rd quarter. Kera Capital Partners Inc. now owns 6,590 shares of the company’s stock valued at $482,000 after acquiring an additional 1,805 shares in the last quarter. Finally, Quent Capital LLC acquired a new stake in Affirm in the 3rd quarter valued at about $43,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Robert O’hare sold 36,401 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.00, for a total value of $2,912,080.00. Following the transaction, the chief financial officer directly owned 1,368 shares in the company, valued at approximately $109,440. This represents a 96.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Max R. Levchin sold 666,666 shares of Affirm stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The SEC filing for this sale provides additional information. Insiders sold a total of 711,256 shares of company stock worth $57,231,923 over the last three months. Insiders own 11.01% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on AFRM shares. Rothschild & Co Redburn upgraded Affirm from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $74.00 to $101.00 in a report on Monday, October 6th. BTIG Research reissued a “neutral” rating on shares of Affirm in a research note on Wednesday, December 17th. Morgan Stanley dropped their target price on Affirm from $90.00 to $83.00 and set an “equal weight” rating for the company in a report on Friday, November 7th. Truist Financial reduced their price target on Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Finally, Redburn Partners set a $101.00 price objective on shares of Affirm in a report on Monday, October 6th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, Affirm presently has a consensus rating of “Moderate Buy” and an average price target of $89.17.

Affirm Stock Performance

Shares of Affirm stock opened at $71.76 on Thursday. The firm has a market cap of $23.69 billion, a PE ratio of 107.10, a price-to-earnings-growth ratio of 3.22 and a beta of 3.57. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 2.40. Affirm Holdings, Inc. has a 52 week low of $30.90 and a 52 week high of $100.00. The business’s fifty day simple moving average is $72.36 and its 200-day simple moving average is $74.49.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.12. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The firm had revenue of $933.34 million during the quarter, compared to the consensus estimate of $881.83 million. During the same period last year, the company earned ($0.31) EPS. The company’s quarterly revenue was up 33.6% on a year-over-year basis. Equities analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Affirm Company 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.