GF Fund Management CO. LTD. Sells 34,419 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

GF Fund Management CO. LTD. lessened its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 39.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,418 shares of the company's stock after selling 34,419 shares during the period. GF Fund Management CO. LTD.'s holdings in Affirm were worth $2,414,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in AFRM. Truist Financial Corp acquired a new position in Affirm during the 4th quarter worth about $212,000. Steward Partners Investment Advisory LLC lifted its position in Affirm by 59.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,878 shares of the company's stock worth $114,000 after buying an additional 700 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Affirm by 3.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,272,058 shares of the company's stock worth $138,368,000 after buying an additional 68,848 shares in the last quarter. Victory Capital Management Inc. lifted its position in Affirm by 106.3% during the 4th quarter. Victory Capital Management Inc. now owns 65,819 shares of the company's stock worth $4,008,000 after buying an additional 33,907 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Affirm by 18.8% during the 4th quarter. M&T Bank Corp now owns 21,027 shares of the company's stock worth $1,280,000 after buying an additional 3,325 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on AFRM shares. TD Cowen started coverage on shares of Affirm in a research report on Tuesday, April 8th. They set a "buy" rating and a $50.00 price target on the stock. Morgan Stanley reduced their price target on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Susquehanna upgraded shares of Affirm from a "neutral" rating to a "positive" rating and set a $65.00 price target on the stock in a research report on Friday, May 9th. UBS Group dropped their price objective on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, Citigroup reissued an "overweight" rating on shares of Affirm in a report on Monday, June 30th. Nine equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $65.90.

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,089 shares of the stock in a transaction that occurred on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total transaction of $820,539.00. Following the completion of the sale, the director directly owned 29,343 shares of the company's stock, valued at approximately $1,496,493. This represents a 35.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Christa S. Quarles sold 754 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total value of $50,842.22. Following the sale, the director directly owned 137,241 shares of the company's stock, valued at approximately $9,254,160.63. The trade was a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 19,343 shares of company stock valued at $1,023,531. 11.82% of the stock is owned by corporate insiders.

Affirm Stock Down 4.9%

NASDAQ AFRM traded down $3.50 during trading hours on Tuesday, reaching $67.73. 6,649,748 shares of the company's stock were exchanged, compared to its average volume of 8,372,926. The company's 50-day moving average is $57.55 and its two-hundred day moving average is $56.43. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of -322.52, a price-to-earnings-growth ratio of 2.59 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The business had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the prior year, the business earned ($0.43) EPS. Affirm's revenue for the quarter was up 35.9% compared to the same quarter last year. On average, analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal 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.