Affirm (NASDAQ:AFRM) Shares Gap Up to $31.46

Affirm Holdings, Inc. (NASDAQ:AFRM) shares gapped up prior to trading on Monday . The stock had previously closed at $31.46, but opened at $32.46. Affirm shares last traded at $31.88, with a volume of 1,290,737 shares trading hands.

Wall Street Analyst Weigh In

AFRM has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price objective on shares of Affirm in a research report on Monday, June 24th. Bank of America raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Tuesday, July 30th. JMP Securities assumed coverage on Affirm in a report on Friday, June 28th. They set a “market perform” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Thursday, May 9th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $43.00 price target on shares of Affirm in a research report on Friday, May 24th. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Affirm currently has an average rating of “Hold” and an average price target of $32.97.

Affirm Trading Up 0.8 %

The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The firm’s fifty day moving average is $28.83 and its 200-day moving average is $32.53. The firm has a market cap of $9.81 billion, a price-to-earnings ratio of -14.11 and a beta of 3.45.

Insider Activity

In related news, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 13.05% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Ridgewood Investments LLC bought a new stake in shares of Affirm during the second quarter valued at approximately $27,000. Raleigh Capital Management Inc. bought a new position in shares of Affirm in the fourth quarter valued at approximately $33,000. Global Wealth Strategies & Associates grew its holdings in shares of Affirm by 94.0% in the first 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. Allspring Global Investments Holdings LLC raised its stake in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares during the period. Finally, ORG Partners LLC raised its position in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the period. Institutional investors and hedge funds 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.