Affirm (NASDAQ:AFRM) Trading Down 4.3% - Here's What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report)'s share price was down 4.3% on Thursday . The stock traded as low as $45.89 and last traded at $45.90. Approximately 1,648,837 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 8,732,903 shares. The stock had previously closed at $47.97.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on AFRM shares. Mizuho reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Affirm in a report on Tuesday, August 27th. Needham & Company LLC reiterated a "hold" rating on shares of Affirm in a research note on Friday, September 6th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $46.00 price target on shares of Affirm in a research note on Friday, October 4th. Wedbush upgraded shares of Affirm from an "underperform" rating to a "neutral" rating and boosted their price target for the stock from $25.00 to $45.00 in a research note on Monday. Finally, Morgan Stanley upgraded shares of Affirm from an "underweight" rating to an "equal weight" rating and boosted their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $41.50.

Affirm Trading Down 8.4 %

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 firm has a market cap of $13.58 billion, a P/E ratio of -19.70 and a beta of 3.50. The company's 50 day simple moving average is $38.66 and its 200-day simple moving average is $33.57.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.31. The business had revenue of $659.19 million during the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative net margin of 22.29% and a negative return on equity of 15.55%. As a group, research analysts predict that Affirm Holdings, Inc. will post -0.82 earnings per share for the current fiscal year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,275 shares of the firm's stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now directly owns 64,348 shares of the company's stock, valued at approximately $1,730,961.20. 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. In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company's stock, valued at $4,117,455. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Keith Rabois sold 9,275 shares of Affirm stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $26.90, for a total transaction of $249,497.50. Following the transaction, the director now directly owns 64,348 shares in the company, valued at approximately $1,730,961.20. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,075 shares of company stock valued at $4,803,786. 13.05% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Affirm

Institutional investors have recently bought and sold shares of the business. Bank of Montreal Can increased its holdings in Affirm by 2,305.3% during the second quarter. Bank of Montreal Can now owns 195,936 shares of the company's stock valued at $6,466,000 after buying an additional 187,790 shares during the period. Avantax Advisory Services Inc. purchased a new position in Affirm during the first quarter valued at approximately $258,000. Dragoneer Investment Group LLC acquired a new stake in Affirm in the second quarter valued at approximately $45,219,000. Principal Financial Group Inc. boosted 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 valued at $710,000 after acquiring an additional 4,868 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Affirm by 6.8% in the first 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. 69.29% of the stock is 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.