Affirm (NASDAQ:AFRM) Shares Down 4.3% – What’s Next?

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

Analyst Ratings Changes

AFRM has been the topic of a number of research reports. JMP Securities started coverage on shares of Affirm in a research report on Friday, June 28th. They set a “market perform” rating on the stock. Susquehanna assumed coverage on shares of Affirm in a research report on Friday, September 20th. They set a “positive” rating and a $52.00 price objective for the company. Mizuho reissued an “outperform” rating and set a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $25.00 to $45.00 in a research report on Monday. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.50.

Affirm Stock Down 7.4 %

The firm has a fifty day moving average price of $38.28 and a 200 day moving average price of $33.50. The company has a quick ratio of 13.07, a current ratio of 13.07 and a debt-to-equity ratio of 2.41. The company has a market cap of $13.73 billion, a P/E ratio of -20.34 and a beta of 3.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $599.50 million. Equities research analysts forecast that Affirm Holdings, Inc. will post -0.82 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total value of $273,780.00. Following the transaction, the insider now owns 122,069 shares in the company, valued at $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction 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 transaction, the insider now owns 122,069 shares in the company, valued at $5,493,105. This represents a 0.00 % decrease in their ownership of the stock. 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. Insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Affirm by 4.1% during the 4th quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock worth $958,569,000 after acquiring an additional 769,843 shares during the last quarter. B. Riley Wealth Advisors Inc. bought a new position in shares of Affirm during the fourth quarter worth $252,000. Los Angeles Capital Management LLC acquired a new position in shares of Affirm in the 1st quarter valued at $749,000. RJA Asset Management LLC bought a new stake in shares of Affirm in the 1st quarter valued at $14,808,000. Finally, Omega Financial Group LLC increased its position in shares of Affirm by 21.5% in the 1st quarter. Omega Financial Group LLC now owns 93,568 shares of the company’s stock valued at $3,486,000 after buying an additional 16,528 shares in the last quarter. 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.