Affirm (NASDAQ:AFRM) Given New $84.00 Price Target at JPMorgan Chase & Co.

Affirm (NASDAQ:AFRM) had its price objective increased by JPMorgan Chase & Co. from $69.00 to $84.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

AFRM has been the subject of several other reports. Citigroup restated an “overweight” rating on shares of Affirm in a report on Monday, June 30th. Oppenheimer set a $80.00 price target on Affirm and gave the stock an “outperform” rating in a report on Monday, July 21st. JMP Securities lowered their price target on Affirm from $85.00 to $75.00 and set a “market outperform” rating for the company in a report on Friday, May 9th. Wall Street Zen downgraded Affirm from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Royal Bank Of Canada increased their price objective on Affirm from $70.00 to $75.00 and gave the stock a “sector perform” rating in a report on Tuesday, July 8th. One equities 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, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $68.74.

Affirm Trading Down 5.6%

Shares of AFRM opened at $73.86 on Tuesday. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm has a 12-month low of $28.47 and a 12-month high of $82.53. The firm has a market capitalization of $23.83 billion, a PE ratio of -351.71, a price-to-earnings-growth ratio of 2.91 and a beta of 3.63. The stock’s fifty day simple moving average is $68.42 and its 200-day simple moving average is $58.63.

Insider Buying and Selling

In other news, Director Christa S. Quarles sold 754 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $67.43, for a total transaction of $50,842.22. Following the transaction, the director owned 137,241 shares in the company, valued at approximately $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Katherine Adkins sold 6,489 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $75.00, for a total value of $486,675.00. Following the transaction, the insider owned 113,400 shares in the company, valued at $8,505,000. The trade was a 5.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 163,114 shares of company stock valued at $11,825,169. Insiders own 11.82% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds have recently added to or reduced their stakes in the stock. Durable Capital Partners LP increased its stake in shares of Affirm by 97.3% in the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock valued at $356,769,000 after purchasing an additional 2,888,827 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Affirm by 140.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,544,132 shares of the company’s stock valued at $205,350,000 after purchasing an additional 2,657,074 shares during the last quarter. Norges Bank bought a new position in shares of Affirm in the 2nd quarter valued at $183,475,000. Atreides Management LP increased its stake in shares of Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after purchasing an additional 1,670,429 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Affirm by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 23,272,997 shares of the company’s stock valued at $1,051,707,000 after purchasing an additional 1,457,434 shares during the last quarter. Institutional investors own 69.29% of the company’s stock.

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.