Affirm (NASDAQ:AFRM) Shares Gap Up – Here’s What Happened

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) gapped up before the market opened on Friday . The stock had previously closed at $68.77, but opened at $71.03. Affirm shares last traded at $71.07, with a volume of 1,510,761 shares trading hands.

Analyst Ratings Changes

AFRM has been the subject of a number of recent research reports. Mizuho boosted their price objective on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Bank of America upped their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Susquehanna raised their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a research note on Friday, November 8th. The Goldman Sachs Group upped their target price on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.33.

Affirm Stock Up 0.4 %

The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock’s fifty day moving average price is $54.35 and its two-hundred day moving average price is $40.30.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period last year, the company earned ($0.57) EPS. Sell-side analysts predict that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Insiders Place Their Bets

In other Affirm news, President Libor Michalek sold 2,847 shares of Affirm stock in a transaction on Friday, November 29th. The stock was sold at an average price of $70.00, for a total transaction of $199,290.00. Following the completion of the transaction, the president now owns 159,449 shares in the company, valued at approximately $11,161,430. The trade was a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was 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 directly owns 91,499 shares of the company’s stock, valued at approximately $4,117,455. This represents a 47.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 970,665 shares of company stock worth $59,967,781 over the last three months. Company insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its holdings in shares of Affirm by 208.6% in the third quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock worth $889,000 after acquiring an additional 14,720 shares during the period. Arete Wealth Advisors LLC bought a new stake in shares of Affirm in the 3rd quarter valued at approximately $244,000. Y Intercept Hong Kong Ltd purchased a new position in shares of Affirm during the 3rd quarter worth about $1,618,000. Main Management ETF Advisors LLC bought a new position in shares of Affirm during the third quarter valued at approximately $2,629,000. Finally, XTX Topco Ltd grew its position in Affirm by 25.5% in the 3rd quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock valued at $2,206,000 after acquiring an additional 10,970 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

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.