A company insider recently bought 3,898 shares of Affirm Holdings Inc. [AFRM]. Should You Buy?

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Affirm Holdings Inc. shares valued at $116,940 were purchased by GIC Private Ltd on Apr 29. At $30.00 per share, GIC Private Ltd acquired 3,898 shares. The insider’s holdings grew to 4,499,514 shares worth approximately $95.97 million following the completion of this transaction.


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Also, GIC Private Ltd purchased 28,038 shares, netting a total of over 844,785 in proceeds. Following the buying of shares at $30.13 each, the insider now holds 4,495,616 shares.

Before that, GIC Private Ltd had added 181,864 shares to its account. In a trade valued at $5,383,174, the 10% Owner bought Affirm Holdings Inc. shares for $29.60 each. Upon closing the transaction, the insider’s holdings increased to 181,864 shares, worth approximately $95.29 million.

As published in their initiating research note from Goldman on July 11, 2022, Affirm Holdings Inc. [AFRM] has been a Neutral and the price target has been revised to $22. This represents a 3.05% premium over Wednesday’s closing price. Analysts at Wedbush started covering the stock with ‘”an Underperform”‘ outlook in a report released in early June. As of May 11, 2022, JP Morgan has initiated its “Neutral” rating for AFRM. Earlier on May 10, 2022, Stephens downgraded its rating. Their new recommendation was “an Underweight” for AFRM stock which previously was a “an Equal-weight”.

Analyzing AFRM’s Price Performance

On Wednesday, Affirm Holdings Inc. [NASDAQ: AFRM] plunged -3.66% to $21.33. The stock’s lowest price that day was $21.32, but it reached a high of $23.10 in the same session. During the last five days, there has been a drop of approximately -12.33%. Over the course of the year, Affirm Holdings Inc. shares have dropped approximately -78.79%. Shares of the company reached a 52-week high of $102.21 on 01/03/22 and a 52-week low of $13.64 on 05/12/22. A 50-day SMA is recorded $27.80, while a 200-day SMA reached $42.51. Nevertheless, trading volume fell to 11.3 million shares from 9.13 million shares the previous day.

Support And Resistance Levels for Affirm Holdings Inc. (AFRM)

According to the 24-hour chart, there is a support level at 20.73, which, if violated, would cause prices to drop to 20.14. In the upper region, resistance lies at 22.51. The next price resistance is at 23.70. RSI (Relative Strength Index) is 36.36 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.42, which suggests the price will decrease in the coming days. Percent R is at 99.83%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Affirm Holdings Inc. subject to short interest?

Stocks of Affirm Holdings Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 5.33 million shares to 32.82 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 27.49 million shares. A jump of 16.24% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.1 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.1.

Which companies own the most shares of Affirm Holdings Inc. (AFRM)?

According to Capital Research & Management Co filings, the company currently owns 24,791,528 shares, which is about 10.96% of the total AFRM shares outstanding. The investor’s shares have plunged by -6,075,950 from its previous 13-F filing of 30867478.0 shares. With the completion of the buy transaction, Baillie Gifford & Co.’s stake is now worth $484,094,751. GIC Pte Ltd. acquire a 0.02% interest valued at $382.51 million while The Vanguard Group, Inc. sold a -102,221 stake. A total of 1,404,278 shares of Affirm Holdings Inc. were sold by T. Rowe Price Associates, Inc. during the quarter, and 5,634,546 were bought by Morgan Stanley Investment Managem. In its current portfolio, BlackRock Fund Advisors holds 6,219,047 shares valued at $145.71 million.

In terms of Affirm Holdings Inc. share price expectations, FactSet research, analysts set an average price target of $34.47 in the next 12 months, up nearly 35.5% from the previous closing price of $22.14. Analysts anticipate Affirm Holdings Inc. stock to reach $70.00 by 2022, with the lowest price target being $15.00. In spite of this, 19 analysts ranked Affirm Holdings Inc. stock as an Overweight at the end of 2022. On April 05, 2022, MoffettNathanson assigned a price target of “a Neutral” to the stock and initiated coverage with a $50.

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