Teacher Retirement System of Texas Sells 16,114 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

Teacher Retirement System of Texas lowered its position in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 25.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,322 shares of the company's stock after selling 16,114 shares during the period. Teacher Retirement System of Texas' holdings in Affirm were worth $2,093,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. First Horizon Advisors Inc. purchased a new position in Affirm during the first quarter valued at approximately $69,000. Summit Trail Advisors LLC lifted its holdings in shares of Affirm by 8.7% in the 1st quarter. Summit Trail Advisors LLC now owns 10,852 shares of the company's stock worth $490,000 after acquiring an additional 873 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Affirm by 251.8% in the 1st quarter. Vontobel Holding Ltd. now owns 11,993 shares of the company's stock worth $542,000 after acquiring an additional 8,584 shares during the last quarter. Amalgamated Bank boosted its stake in shares of Affirm by 2.1% in the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock valued at $622,000 after purchasing an additional 280 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Affirm by 8.5% during the 1st quarter. KBC Group NV now owns 10,525 shares of the company's stock valued at $476,000 after purchasing an additional 827 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company's stock.

Affirm Stock Down 5.6%

NASDAQ AFRM traded down $3.82 during trading hours on Friday, reaching $64.72. 8,028,433 shares of the company's stock traded hands, compared to its average volume of 8,363,847. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $82.53. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The firm has a 50-day simple moving average of $58.31 and a 200 day simple moving average of $56.54. The firm has a market cap of $20.88 billion, a PE ratio of -308.19, a PEG ratio of 2.51 and a beta of 3.63.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on AFRM. JMP Securities cut their price target on shares of Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Evercore ISI started coverage on Affirm in a research note on Wednesday, April 9th. They issued an "outperform" rating and a $50.00 target price for the company. Susquehanna upgraded 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 lowered their price objective on Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. Finally, Stephens assumed coverage on shares of Affirm in a report on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 target price on the stock. Nine analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $65.90.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of Affirm stock in a transaction on Monday, June 16th. The stock was sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the transaction, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 16,089 shares of Affirm stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $51.00, for a total value of $820,539.00. Following the transaction, the director owned 29,343 shares of the company's stock, valued at $1,496,493. The trade was a 35.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 96,247 shares of company stock valued at $6,422,823 in the last ninety days. Corporate insiders own 11.82% of the company's stock.

About Affirm

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.