Affirm (NASDAQ:AFRM) Trading Up 3.2% – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM)’s stock price was up 3.2% on Wednesday . The company traded as high as $42.98 and last traded at $42.46. Approximately 2,787,973 shares changed hands during trading, a decline of 68% from the average daily volume of 8,632,152 shares. The stock had previously closed at $41.15.

Analyst Ratings Changes

A number of analysts have recently weighed in on AFRM shares. Mizuho restated an “outperform” rating and set a $65.00 price objective on shares of Affirm in a research report on Tuesday, August 27th. The Goldman Sachs Group restated a “buy” rating and set a $42.00 price objective on shares of Affirm in a research report on Monday, June 24th. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday. Susquehanna began coverage on Affirm in a research report on Friday, September 20th. They set a “positive” rating and a $52.00 target price on the stock. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $38.13.

Affirm Trading Up 3.9 %

The firm has a fifty day simple moving average of $35.80 and a 200-day simple moving average of $33.08. The firm has a market cap of $13.22 billion, a P/E ratio of -19.40 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07.

Affirm (NASDAQ:AFRM) last posted its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating 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 for the quarter, compared to analyst estimates of $599.50 million. On average, equities research analysts expect that Affirm Holdings, Inc. will post -0.82 earnings per share for the current year.

Insider Activity

In other news, insider Katherine Adkins sold 6,084 shares of the firm’s stock in a transaction that occurred 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 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Katherine Adkins sold 6,084 shares of the stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.00, for a total transaction of $273,780.00. Following the completion of the sale, the insider now directly owns 122,069 shares of the company’s stock, valued at approximately $5,493,105. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Christa S. Quarles sold 14,400 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 112,075 shares of company stock worth $4,803,786 over the last 90 days. 13.05% of the stock is currently owned by corporate insiders.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently modified their holdings of the business. Raleigh Capital Management Inc. purchased a new stake in shares of Affirm during the fourth quarter valued at approximately $33,000. Ridgewood Investments LLC purchased a new stake in Affirm in the second quarter worth $27,000. Global Wealth Strategies & Associates increased its position in Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after buying an additional 470 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares during the last quarter. Finally, ORG Partners LLC increased its position in Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

About Affirm

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.