Affirm (NASDAQ:AFRM) Stock Price Down 4.3% – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM) traded down 4.3% during trading on Thursday . The stock traded as low as $45.89 and last traded at $45.90. 1,648,837 shares changed hands during trading, a decline of 81% from the average session volume of 8,732,903 shares. The stock had previously closed at $47.97.

Wall Street Analysts Forecast Growth

AFRM has been the subject of several analyst reports. Bank of America increased their price objective on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $25.00 to $45.00 in a report on Monday. JMP Securities began coverage on shares of Affirm in a report on Friday, June 28th. They set a “market perform” rating on the stock. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Barclays boosted their target price on shares of Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a research report on Monday, September 23rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Affirm has an average rating of “Hold” and an average price target of $41.50.

Affirm Price Performance

The stock’s 50-day simple moving average is $38.28 and its two-hundred day simple moving average is $33.50. The company has a market capitalization of $13.73 billion, a price-to-earnings ratio of -20.34 and a beta of 3.50. 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 (NASDAQ:AFRM) last issued its quarterly earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. The firm had revenue of $659.19 million for the quarter, compared to analyst estimates of $599.50 million. Equities research analysts predict that Affirm Holdings, Inc. will post -0.82 earnings per share for the current year.

Insider Activity at Affirm

In other news, insider Katherine Adkins sold 6,084 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the completion of the sale, the insider now owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 112,075 shares of company stock valued at $4,803,786. 13.05% of the stock is owned by insiders.

Institutional Trading of Affirm

Several hedge funds have recently made changes to their positions in AFRM. ORG Wealth Partners LLC purchased a new position in Affirm in the third quarter worth approximately $29,000. Ridgewood Investments LLC acquired a new stake in shares of Affirm in the second quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. ORG Partners LLC increased its holdings in shares of Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after acquiring an additional 551 shares during the last quarter. Finally, Plato Investment Management Ltd lifted its stake in Affirm by 255.1% during the first quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after purchasing an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Company 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.