Affirm (NASDAQ:AFRM) Sees Large Volume Increase

Affirm Holdings, Inc. (NASDAQ:AFRM) saw an uptick in trading volume on Thursday . 4,619,902 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 8,651,667 shares.The stock last traded at $45.12 and had previously closed at $44.28.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on AFRM. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $42.00 price target on shares of Affirm in a research note on Monday, June 24th. Mizuho reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Royal Bank of Canada boosted their price objective on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Finally, Barclays raised their target price on shares of Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, Affirm has a consensus rating of “Hold” and a consensus target price of $34.32.

Affirm Price Performance

The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a market cap of $14.04 billion, a price-to-earnings ratio of -21.35 and a beta of 3.51. The stock has a fifty day simple moving average of $32.08 and a 200-day simple moving average of $32.53.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction that occurred on 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 in the company, valued at approximately $5,493,105. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the sale, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $29.89, for a total value of $277,259.64. Following the sale, the director now owns 73,623 shares in the company, valued at approximately $2,200,591.47. The disclosure for this sale can be found here. Insiders sold 121,351 shares of company stock worth $5,081,045 over the last three months. 13.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Several large investors have recently bought and sold shares of the business. Dragoneer Investment Group LLC bought a new stake in shares of Affirm in the 2nd quarter valued at $45,219,000. Norges Bank bought a new stake in shares of Affirm in the 4th quarter worth approximately $67,310,000. Vanguard Group Inc. raised its stake 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 acquiring an additional 1,316,901 shares during the period. Leo Wealth LLC purchased a new stake in shares of Affirm during the 4th quarter valued at approximately $57,647,000. Finally, Baillie Gifford & Co. lifted its position 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 acquiring an additional 749,368 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

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.