Affirm (NASDAQ:AFRM) Trading Down 2%

Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) dropped 2% during trading on Tuesday . The company traded as low as $43.77 and last traded at $43.77. Approximately 743,157 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 8,718,031 shares. The stock had previously closed at $44.67.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Mizuho reiterated an “outperform” rating and issued a $65.00 price target on shares of Affirm in a research note on Tuesday, August 27th. Barclays lifted 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. The Goldman Sachs Group restated a “buy” rating and issued a $42.00 price objective on shares of Affirm in a report on Monday, June 24th. Finally, Royal Bank of Canada upped their target price on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, August 29th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $35.53.

Affirm Trading Down 2.1 %

The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The stock has a 50 day moving average of $33.27 and a 200 day moving average of $32.75. The firm has a market cap of $13.52 billion, a P/E ratio of -19.87 and a beta of 3.51.

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. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.82 EPS for the current year.

Insider Activity at Affirm

In other news, insider Katherine Adkins sold 6,084 shares of Affirm 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. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Affirm news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.89, for a total value of $277,259.64. Following the transaction, the director now owns 73,623 shares in the company, valued at $2,200,591.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katherine Adkins sold 6,084 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the sale, the insider now owns 122,069 shares of the company’s stock, valued at $5,493,105. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,351 shares of company stock valued at $5,081,045. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of AFRM. Avantax Advisory Services Inc. bought a new position in shares of Affirm during the first quarter valued at approximately $258,000. Principal Financial Group Inc. raised its stake in Affirm by 34.3% in the first quarter. Principal Financial Group Inc. now owns 19,065 shares of the company’s stock worth $710,000 after buying an additional 4,868 shares in the last quarter. Vanguard Group Inc. boosted its position in Affirm by 6.8% during the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after acquiring an additional 1,316,901 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Affirm during the 1st quarter worth approximately $265,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of Affirm by 19.7% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 185,058 shares of the company’s stock worth $6,895,000 after acquiring an additional 30,500 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.