Affirm Holdings, Inc. (NASDAQ:AFRM) Short Interest Down 8.4% in September

Affirm Holdings, Inc. (NASDAQ:AFRM) was the recipient of a large decrease in short interest in the month of September. As of September 30th, there was short interest totalling 19,350,000 shares, a decrease of 8.4% from the September 15th total of 21,120,000 shares. Based on an average daily volume of 9,040,000 shares, the days-to-cover ratio is currently 2.1 days. Currently, 7.7% of the shares of the company are sold short.

Affirm Trading Down 8.4 %

Shares of AFRM stock opened at $43.93 on Friday. The business has a 50-day moving average price of $38.66 and a two-hundred day moving average price of $33.57. Affirm has a 12-month low of $15.97 and a 12-month high of $52.48. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The firm has a market cap of $13.58 billion, a P/E ratio of -19.70 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last released its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The company had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Equities analysts anticipate that Affirm will post -0.82 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In related news, Director Christa S. Quarles sold 14,400 shares of the business’s 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 transaction, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the completion of the sale, the director now owns 141,903 shares in the company, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares in the company, valued at approximately $4,117,455. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 112,075 shares of company stock worth $4,803,786 in the last quarter. 13.05% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently made changes to their positions in the business. Ridgewood Investments LLC bought a new stake in Affirm in the second quarter worth $27,000. ORG Wealth Partners LLC bought a new stake in shares of Affirm in the 3rd quarter valued at about $29,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares during the last quarter. ORG Partners LLC boosted its holdings in Affirm by 80.0% during 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 period. Finally, Plato Investment Management Ltd grew its position in Affirm by 255.1% during the 1st quarter. Plato Investment Management Ltd now owns 1,328 shares of the company’s stock worth $49,000 after acquiring an additional 954 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on AFRM. Bank of America boosted their price objective on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, August 29th. Susquehanna assumed coverage on shares of Affirm in a research note on Friday, September 20th. They set a “positive” rating and a $52.00 price target on the stock. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Wells Fargo & Company upgraded Affirm from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $40.00 to $52.00 in a research report on Friday, October 11th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Three 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $41.50.

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.