Affirm Holdings, Inc. (NASDAQ:AFRM) Stake Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in Affirm Holdings, Inc. (NASDAQ:AFRM) by 25.6% during the 2nd quarter, Holdings Channel.com reports. The fund owned 866,946 shares of the company’s stock after purchasing an additional 176,675 shares during the quarter. Bank of New York Mellon Corp’s holdings in Affirm were worth $26,190,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of AFRM. International Assets Investment Management LLC acquired a new stake in Affirm during the 4th quarter worth about $1,698,000. Charles Schwab Investment Management Inc. raised its holdings in Affirm by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,508 shares of the company’s stock worth $67,347,000 after buying an additional 72,178 shares during the period. Avantax Advisory Services Inc. acquired a new stake in Affirm during the 1st quarter worth about $258,000. Principal Financial Group Inc. raised its holdings in Affirm by 34.3% during the 1st quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock worth $710,000 after buying an additional 4,868 shares during the period. Finally, Vanguard Group Inc. raised its holdings in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the period. 69.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Affirm news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $29.89, for a total transaction of $277,259.64. Following the completion of the sale, the director now owns 73,623 shares of the company’s stock, valued at $2,200,591.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.05% of the company’s stock.

Affirm Stock Down 3.3 %

Shares of Affirm stock opened at $40.23 on Thursday. The stock has a market capitalization of $12.44 billion, a P/E ratio of -18.04 and a beta of 3.45. The company has a quick ratio of 12.94, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a 50 day moving average price of $29.98 and a two-hundred day moving average price of $32.36. Affirm Holdings, Inc. has a 12-month low of $15.97 and a 12-month high of $52.48.

Analyst Ratings Changes

Several analysts have issued reports on AFRM shares. Wedbush boosted their price objective on Affirm from $20.00 to $25.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. BMO Capital Markets cut their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a report on Friday, May 10th. Barclays upped their target price on Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Thursday, August 29th. Finally, JMP Securities started coverage on Affirm in a report on Friday, June 28th. They issued a “market perform” rating on the stock. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $34.32.

Affirm 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.