Daiwa Securities Group Inc. Invests $233,000 in Affirm Holdings, Inc. (NASDAQ:AFRM)

Daiwa Securities Group Inc. purchased a new stake in Affirm Holdings, Inc. (NASDAQ:AFRM) in the second quarter, Holdings Channel.com reports. The firm purchased 7,725 shares of the company’s stock, valued at approximately $233,000.

A number of other hedge funds have also recently bought and sold shares of AFRM. Private Advisor Group LLC purchased a new position in shares of Affirm during the 4th quarter valued at approximately $412,000. Principal Securities Inc. bought a new stake in shares of Affirm in the 4th quarter worth about $49,000. Teacher Retirement System of Texas raised its stake in shares of Affirm by 56.3% in the 4th quarter. Teacher Retirement System of Texas now owns 24,014 shares of the company’s stock valued at $1,180,000 after purchasing an additional 8,647 shares in the last quarter. Independent Advisor Alliance bought a new position in shares of Affirm during the fourth quarter worth about $760,000. Finally, Norges Bank acquired a new position in Affirm in the fourth quarter worth about $67,310,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Stock Performance

Shares of AFRM opened at $44.00 on Wednesday. Affirm Holdings, Inc. has a 52-week low of $15.97 and a 52-week high of $52.48. The firm has a market capitalization of $13.60 billion, a PE ratio of -19.73 and a beta of 3.51. The firm has a 50-day moving average price of $32.08 and a 200 day moving average price of $32.53. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41.

Analysts Set New Price Targets

AFRM has been the topic of several research reports. BTIG Research initiated coverage on Affirm in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Friday, September 6th. JPMorgan Chase & Co. increased their target price on shares of Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada lifted their price target on shares of Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, August 29th. Finally, The Goldman Sachs Group reiterated a “buy” rating and set a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $34.32.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 9,275 shares of the stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at approximately $1,730,961.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the completion of the sale, the director now owns 64,348 shares in the company, valued at $1,730,961.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at $5,678,958.06. The disclosure for this sale can be found here. Insiders have sold 32,951 shares of company stock worth $1,103,045 over the last quarter. 13.05% of the stock is currently owned by company insiders.

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.