State of New Jersey Common Pension Fund D Decreases Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

State of New Jersey Common Pension Fund D lowered its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 28.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,549 shares of the company’s stock after selling 37,114 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Affirm were worth $2,826,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Avantax Advisory Services Inc. purchased a new position in shares of Affirm in the 1st quarter worth $258,000. Principal Financial Group Inc. grew its stake in shares of Affirm by 34.3% during the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock valued at $710,000 after purchasing an additional 4,868 shares during the period. Vanguard Group Inc. increased its position in shares of Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. Oppenheimer & Co. Inc. bought a new position in shares of Affirm in the 1st quarter worth approximately $265,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Affirm by 19.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after buying an additional 30,500 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

Analysts Set New Price Targets

AFRM has been the subject of a number of research reports. JMP Securities assumed coverage on shares of Affirm in a report on Friday, June 28th. They set a “market perform” rating for the company. Wedbush raised their target price on Affirm from $20.00 to $25.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Friday, September 6th. BTIG Research initiated coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Barclays boosted their price objective on Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $34.32.

Affirm Price Performance

Shares of Affirm stock opened at $44.28 on Thursday. The firm has a market cap of $13.69 billion, a PE ratio of -19.86 and a beta of 3.51. The stock has a 50 day moving average of $32.08 and a 200 day moving average of $32.53. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm Holdings, Inc. has a 12 month low of $15.97 and a 12 month high of $52.48.

Insider Transactions at Affirm

In related news, insider Katherine Adkins sold 6,084 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the sale, the insider now owns 122,069 shares in the company, valued at $5,493,105. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Affirm news, insider Katherine Adkins sold 6,084 shares of Affirm stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the transaction, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now 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 121,351 shares of company stock valued at $5,081,045 in the last ninety days. Corporate insiders own 13.05% of the company’s stock.

Affirm 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.