Affirm Holdings, Inc. $AFRM Shares Sold by State of New Jersey Common Pension Fund D

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in Affirm Holdings, Inc. by 9.1%, now holding 83,151 shares valued at approximately $3.76 million.
• Affirm's stock has experienced a decrease of 5.6%, and its current market cap is around $23.83 billion with a PE ratio of -351.71.
• A number of analysts have recently adjusted their price targets for Affirm, with Barclays raising their target to $80.00 and JPMorgan increasing it to $84.00, noting a general consensus rating of "Moderate Buy."

State of New Jersey Common Pension Fund D cut its stake in Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 9.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,151 shares of the company's stock after selling 8,343 shares during the period. State of New Jersey Common Pension Fund D's holdings in Affirm were worth $3,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of AFRM. Allworth Financial LP boosted its holdings in Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $27,000 after purchasing an additional 219 shares during the period. Itau Unibanco Holding S.A. purchased a new position in Affirm in the fourth quarter valued at $28,000. Coppell Advisory Solutions LLC acquired a new stake in Affirm in the fourth quarter valued at $40,000. Thurston Springer Miller Herd & Titak Inc. raised its stake in Affirm by 3,637.8% in the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 1,383 shares of the company's stock valued at $62,000 after buying an additional 1,346 shares in the last quarter. Finally, First Horizon Advisors Inc. acquired a new stake in Affirm in the first quarter valued at $69,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. BTIG Research cut Affirm from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. The Goldman Sachs Group raised their price target on Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Stephens assumed coverage on Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 price target on the stock. Wall Street Zen cut Affirm from a "buy" rating to a "hold" rating in a research note on Sunday, August 17th. Finally, Barclays raised their price target on Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $68.74.

Affirm Stock Performance

AFRM traded up $5.00 during trading on Friday, reaching $79.49. The company's stock had a trading volume of 8,379,774 shares, compared to its average volume of 5,149,236. Affirm Holdings, Inc. has a 52-week low of $30.02 and a 52-week high of $82.53. The company's fifty day moving average price is $69.28 and its 200-day moving average price is $58.94. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of -378.52, a price-to-earnings-growth ratio of 2.95 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47.

Insider Buying and Selling

In other news, CEO Max R. Levchin sold 167,443 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $80.10, for a total transaction of $13,412,184.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert O'hare sold 77,800 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $80.09, for a total value of $6,231,002.00. The disclosure for this sale can be found here. Insiders have sold 629,715 shares of company stock worth $49,194,321 in the last three months. Company insiders own 11.82% 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.