New York State Common Retirement Fund Decreases Stake in Affirm Holdings, Inc. (NASDAQ:AFRM)

New York State Common Retirement Fund decreased its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 3.1% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 127,415 shares of the company's stock after selling 4,100 shares during the period. New York State Common Retirement Fund's holdings in Affirm were worth $5,758,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AFRM. Durable Capital Partners LP increased its stake in Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company's stock valued at $356,769,000 after purchasing an additional 2,888,827 shares in the last quarter. Norges Bank purchased a new stake in shares of Affirm during the 4th quarter valued at about $139,949,000. Capital International Investors purchased a new stake in shares of Affirm during the 4th quarter valued at about $100,030,000. Foxhaven Asset Management LP purchased a new stake in shares of Affirm during the 4th quarter valued at about $80,917,000. Finally, Voloridge Investment Management LLC purchased a new position in shares of Affirm in the fourth quarter worth approximately $76,738,000. 69.29% of the stock is currently owned by institutional investors.

Insider Transactions at Affirm

In related news, CFO Robert O'hare sold 19,802 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $70.03, for a total transaction of $1,386,734.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christa S. Quarles sold 754 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total transaction of $50,842.22. Following the transaction, the director owned 137,241 shares of the company's stock, valued at $9,254,160.63. This represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 96,247 shares of company stock valued at $6,422,823. 11.82% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on AFRM shares. JMP Securities reduced their target price on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating on the stock in a research note on Friday, May 9th. UBS Group cut their target price on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Royal Bank Of Canada raised their target price on shares of Affirm from $70.00 to $75.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Citigroup reaffirmed an "overweight" rating on shares of Affirm in a research report on Monday, June 30th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Affirm in a research report on Wednesday, July 2nd. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.32.

Affirm Price Performance

AFRM traded down $1.32 during trading on Tuesday, hitting $65.43. 5,155,791 shares of the company traded hands, compared to its average volume of 8,310,999. The company has a market cap of $21.11 billion, a PE ratio of -311.57, a P/E/G ratio of 2.63 and a beta of 3.63. The stock's 50-day simple moving average is $60.17 and its two-hundred day simple moving average is $56.57. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $82.53. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.09) by $0.10. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The business had revenue of $783.14 million during the quarter, compared to analyst estimates of $782.98 million. During the same quarter in the previous year, the business posted ($0.43) EPS. The company's quarterly revenue was up 35.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share 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.