Quantinno Capital Management LP Cuts Stake in Affirm Holdings, Inc. $AFRM

Quantinno Capital Management LP cut its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 11.9% during the first quarter, Holdings Channel.com reports. The institutional investor owned 520,839 shares of the company’s stock after selling 70,115 shares during the period. Quantinno Capital Management LP’s holdings in Affirm were worth $23,865,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Greenline Wealth Management LLC purchased a new stake in shares of Affirm during the fourth quarter worth $26,000. Syntegra Private Wealth Group LLC purchased a new position in Affirm in the first quarter valued at $28,000. Triumph Capital Management purchased a new position in Affirm in the third quarter valued at $31,000. CoreCap Advisors LLC grew its stake in Affirm by 431.3% during the 4th quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock worth $33,000 after purchasing an additional 358 shares in the last quarter. Finally, Strive Financial Group LLC acquired a new position in Affirm during the 4th quarter worth $33,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Trading Down 2.4%

AFRM opened at $71.51 on Friday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $100.00. The company has a market cap of $23.95 billion, a P/E ratio of 65.01, a PEG ratio of 2.91 and a beta of 3.67. The business’s 50-day simple moving average is $74.54 and its 200-day simple moving average is $63.42.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 earnings per share. As a group, equities research analysts expect that Affirm Holdings, Inc. will post 1.23 EPS for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The shares were sold at an average price of $65.00, for a total transaction of $130,000.00. Following the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Michael Linford sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. This represents a 45.87% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have weighed in on AFRM. Compass Point set a $100.00 price target on Affirm in a report on Friday, July 17th. Mizuho lifted their price objective on Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Thursday, May 14th. Citigroup upped their target price on shares of Affirm from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. Robert W. Baird lifted their price target on shares of Affirm from $70.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Finally, Stephens boosted their price target on shares of Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Three investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $92.74.

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.