State of Michigan Retirement System Makes New $1 Million Investment in Affirm Holdings, Inc. (NASDAQ:AFRM)

State of Michigan Retirement System bought a new position in Affirm Holdings, Inc. (NASDAQ:AFRMFree Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 26,895 shares of the company’s stock, valued at approximately $1,002,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Planned Solutions Inc. purchased a new stake in Affirm in the fourth quarter worth $25,000. Creative Financial Designs Inc. ADV increased its stake in Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after purchasing an additional 300 shares during the period. Raleigh Capital Management Inc. purchased a new stake in Affirm in the fourth quarter worth $33,000. Global Wealth Strategies & Associates increased its stake in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after purchasing an additional 470 shares during the period. Finally, Principal Securities Inc. purchased a new position in shares of Affirm during the fourth quarter valued at $49,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Trading Down 1.5 %

Affirm stock opened at $28.55 on Friday. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43. Affirm Holdings, Inc. has a 52 week low of $12.81 and a 52 week high of $52.48. The company has a market capitalization of $8.83 billion, a price-to-earnings ratio of -12.80 and a beta of 3.45. The stock has a 50-day moving average price of $31.46 and a 200 day moving average price of $36.51.

Affirm (NASDAQ:AFRMGet Free Report) last released its earnings results on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The firm had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same quarter in the previous year, the company posted ($0.69) earnings per share. The company’s revenue was up 51.2% compared to the same quarter last year. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several research reports. JPMorgan Chase & Co. upgraded Affirm from a “neutral” rating to an “overweight” rating and raised their price target for the company from $41.00 to $43.00 in a research note on Thursday, May 9th. Mizuho restated a “buy” rating and set a $65.00 price target on shares of Affirm in a research note on Thursday, June 20th. BTIG Research initiated coverage on Affirm in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Finally, 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. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $32.66.

View Our Latest Report on AFRM

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,276 shares of Affirm 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 transaction, the director now directly owns 73,623 shares in the company, valued at $2,200,591.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 13.05% of the company’s stock.

Affirm Profile

(Free Report)

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.

Featured Stories

Institutional Ownership by Quarter for Affirm (NASDAQ:AFRM)

Receive News & Ratings for Affirm Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affirm and related companies with MarketBeat.com's FREE daily email newsletter.