Short Interest in Affirm Holdings, Inc. (NASDAQ:AFRM) Declines By 11.1%

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totalling 20,740,000 shares, a decrease of 11.1% from the August 15th total of 23,330,000 shares. Currently, 8.3% of the company’s stock are sold short. Based on an average daily trading volume, of 8,740,000 shares, the days-to-cover ratio is presently 2.4 days.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price objective on shares of Affirm from $43.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Thursday, August 29th. Barclays boosted their price target on Affirm from $41.00 to $50.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. BTIG Research began coverage on Affirm in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Finally, Bank of America lifted their price objective on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Affirm presently has an average rating of “Hold” and a consensus target price of $34.32.

Insider Transactions at Affirm

In related news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Keith Rabois sold 9,275 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,951 shares of company stock valued at $1,103,045. 13.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Large investors have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Affirm by 4.1% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 192,558 shares of the company’s stock worth $5,817,000 after purchasing an additional 7,500 shares during the last quarter. Quarry LP acquired a new position in Affirm during the second quarter worth $109,000. Algert Global LLC grew its holdings in Affirm by 24.5% in the 2nd quarter. Algert Global LLC now owns 154,252 shares of the company’s stock valued at $4,660,000 after buying an additional 30,360 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Affirm by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 51,588 shares of the company’s stock valued at $1,558,000 after acquiring an additional 3,105 shares during the last quarter. Finally, Dragoneer Investment Group LLC purchased a new stake in shares of Affirm in the second quarter valued at about $45,219,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

Affirm stock opened at $44.00 on Wednesday. The company has a fifty day simple moving average of $32.08 and a 200-day simple moving average of $32.53. The firm has a market capitalization of $13.60 billion, a price-to-earnings ratio of -19.73 and a beta of 3.51. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. Affirm has a 52-week low of $15.97 and a 52-week high of $52.48.

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.