AQR Capital Management LLC Has $880,000 Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

AQR Capital Management LLC grew its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 2.5% during the second quarter, HoldingsChannel.com reports. The firm owned 29,135 shares of the company’s stock after purchasing an additional 722 shares during the period. AQR Capital Management LLC’s holdings in Affirm were worth $880,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in AFRM. Vanguard Group Inc. raised its holdings in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after buying an additional 1,316,901 shares during the last quarter. Capital World Investors raised its stake in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after acquiring an additional 77,050 shares during the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after purchasing an additional 749,368 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after purchasing an additional 176,675 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Affirm in the first quarter valued at $20,150,000. 69.29% of the stock is currently owned by institutional investors.

Affirm Stock Performance

Shares of Affirm stock opened at $47.08 on Friday. The business has a 50-day simple moving average of $36.84 and a 200 day simple moving average of $33.26. Affirm Holdings, Inc. has a one year low of $15.97 and a one year high of $52.48. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The firm has a market capitalization of $14.65 billion, a price-to-earnings ratio of -28.02 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The firm had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. On average, research analysts anticipate that Affirm Holdings, Inc. will post -0.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on AFRM. Susquehanna assumed coverage on Affirm in a report on Friday, September 20th. They set a “positive” rating and a $52.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Bank of America increased their target price on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. The Goldman Sachs Group restated a “buy” rating and set a $42.00 price target on shares of Affirm in a report on Monday, June 24th. Finally, Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $22.00 to $37.00 in a research note on Wednesday. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.82.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Affirm news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The trade was a 0.00 % 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, insider Katherine Adkins sold 6,084 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 112,075 shares of company stock worth $4,803,786. Insiders own 13.05% of the company’s stock.

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.