Affirm Holdings, Inc. (NASDAQ:AFRM) Short Interest Up 9.2% in November

Affirm Holdings, Inc. (NASDAQ:AFRM) saw a significant increase in short interest during the month of November. As of November 15th, there was short interest totalling 20,030,000 shares, an increase of 9.2% from the October 31st total of 18,340,000 shares. Currently, 7.8% of the shares of the company are short sold. Based on an average daily trading volume, of 11,720,000 shares, the days-to-cover ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $46.00 price objective on shares of Affirm in a report on Friday, October 4th. The Goldman Sachs Group upped their price objective on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday. Mizuho upped their target price on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Morgan Stanley raised Affirm from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Finally, BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.33.

Affirm Stock Performance

NASDAQ AFRM opened at $68.39 on Tuesday. The business’s 50-day moving average price is $49.29 and its 200 day moving average price is $38.02. Affirm has a twelve month low of $22.25 and a twelve month high of $72.10. The company has a market capitalization of $21.48 billion, a PE ratio of -47.77 and a beta of 3.47. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to the consensus estimate 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 in the prior year, the business posted ($0.57) earnings per share. On average, research analysts predict that Affirm will post -0.53 earnings per share for the current year.

Insider Buying and Selling at Affirm

In related news, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the transaction, the president now owns 159,449 shares of the company’s stock, valued at $9,885,838. This represents a 38.54 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Katherine Adkins sold 6,084 shares of the company’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 transaction, the insider now directly owns 122,069 shares in the company, valued at $5,493,105. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 868,253 shares of company stock worth $52,186,668. 12.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Affirm

A number of large investors have recently modified their holdings of the company. Comerica Bank raised its holdings in shares of Affirm by 16.2% during the 1st quarter. Comerica Bank now owns 6,109 shares of the company’s stock valued at $228,000 after buying an additional 850 shares during the period. Cetera Advisors LLC raised its holdings in shares of Affirm by 38.4% during the 1st quarter. Cetera Advisors LLC now owns 7,231 shares of the company’s stock valued at $269,000 after buying an additional 2,005 shares during the period. GAMMA Investing LLC raised its holdings in shares of Affirm by 35.3% during the 2nd quarter. GAMMA Investing LLC now owns 3,954 shares of the company’s stock valued at $119,000 after buying an additional 1,031 shares during the period. Mather Group LLC. raised its holdings in shares of Affirm by 951.2% during the 2nd quarter. Mather Group LLC. now owns 4,226 shares of the company’s stock valued at $128,000 after buying an additional 3,824 shares during the period. Finally, Industry Ventures L.L.C. purchased a new stake in shares of Affirm during the 2nd quarter valued at about $731,000. 69.29% of the stock is currently owned by hedge funds and other 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.