Affirm (NASDAQ:AFRM) Trading Down 3.3%

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) were down 3.3% during trading on Wednesday . The company traded as low as $39.70 and last traded at $40.21. Approximately 8,071,316 shares changed hands during mid-day trading, a decline of 6% from the average daily volume of 8,558,286 shares. The stock had previously closed at $41.59.

Wall Street Analyst Weigh In

A number of research firms have recently commented on AFRM. JMP Securities started coverage on Affirm in a research note on Friday, June 28th. They issued a “market perform” rating for the company. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price target on shares of Affirm in a research report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a report on Friday. BMO Capital Markets dropped their price target on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. upped their price target on Affirm from $43.00 to $45.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 20th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Affirm presently has a consensus rating of “Hold” and a consensus target price of $34.32.

Affirm Price Performance

The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of -17.21 and a beta of 3.51. The company has a current ratio of 13.07, a quick ratio of 12.94 and a debt-to-equity ratio of 2.41. The stock has a 50-day moving average price of $30.17 and a 200 day moving average price of $32.41.

Insiders Place Their Bets

In related news, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of large investors have recently modified their holdings of the business. Raleigh Capital Management Inc. purchased a new position in shares of Affirm during the 4th quarter worth $33,000. Ridgewood Investments LLC purchased a new stake in shares of Affirm in the 2nd quarter worth about $27,000. Global Wealth Strategies & Associates increased its holdings in Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares in the last quarter. Principal Securities Inc. acquired a new position in Affirm during the fourth quarter worth about $49,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares in the last quarter. Hedge funds and other institutional investors own 69.29% 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.