Affirm (NASDAQ:AFRM) Sees Strong Trading Volume

Affirm Holdings, Inc. (NASDAQ:AFRM) saw strong trading volume on Thursday . 4,619,902 shares traded hands during 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 Ratings Changes

Several analysts have recently issued reports on AFRM shares. Susquehanna started coverage on Affirm in a research note on Friday. They issued a “positive” rating and a $52.00 price objective on the stock. Mizuho reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Affirm in a research report on Tuesday, August 27th. JMP Securities initiated coverage on Affirm in a research report on Friday, June 28th. They set a “market perform” rating for the company. BTIG Research started coverage on shares of Affirm in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Bank of America lifted their price target on shares of Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a research note on Thursday, August 29th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $35.31.

Affirm Price Performance

The firm has a market cap of $13.89 billion, a price-to-earnings ratio of -20.15 and a beta of 3.51. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The stock has a 50-day moving average price of $32.71 and a 200 day moving average price of $32.69.

Insiders Place Their Bets

In other news, insider Katherine Adkins sold 82,316 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Affirm news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Keith Rabois sold 9,275 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the completion of the sale, the director now directly owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The disclosure for this sale can be found here. Insiders have sold a total of 121,351 shares of company stock valued at $5,081,045 over the last quarter. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Vanguard Group Inc. raised its stake in shares of Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares during the last quarter. Capital World Investors raised its position in Affirm by 0.4% during the 1st quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after buying an additional 77,050 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of Affirm by 4.2% in the 1st 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 during the period. Dragoneer Investment Group LLC acquired a new stake in shares of Affirm in the 2nd quarter worth $45,219,000. Finally, Norges Bank purchased a new stake in shares of Affirm in the fourth quarter valued at about $67,310,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.