Affirm (NASDAQ:AFRM) Trading Down 3.3%

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

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wedbush boosted their target price on shares of Affirm from $20.00 to $25.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. The Goldman Sachs Group reissued a “buy” rating and set a $42.00 price target on shares of Affirm in a research note on Monday, June 24th. Mizuho reiterated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research note on Tuesday, August 27th. BMO Capital Markets cut their target price on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Finally, Barclays increased their price objective on shares of Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $34.32.

Affirm Price Performance

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

Insider Buying and Selling

In other news, Director Keith Rabois sold 9,275 shares of the business’s 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 $1,730,961.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 13.05% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Ridgewood Investments LLC acquired a new position in shares of Affirm during the 2nd quarter worth about $27,000. Raleigh Capital Management Inc. acquired a new position in shares of Affirm in the fourth quarter valued at about $33,000. Global Wealth Strategies & Associates lifted its holdings in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares during the period. Allspring Global Investments Holdings LLC raised its holdings 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 buying an additional 540 shares during the last quarter. Finally, ORG Partners LLC grew its position in shares of Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after buying an additional 551 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

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.