Affirm (NASDAQ:AFRM) Trading Down 6.4%

Affirm Holdings, Inc. (NASDAQ:AFRM) shares fell 6.4% during trading on Tuesday . The company traded as low as $23.20 and last traded at $23.41. 8,444,680 shares were traded during mid-day trading, a decline of 49% from the average session volume of 16,689,656 shares. The stock had previously closed at $25.01.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on AFRM shares. Piper Sandler downgraded shares of Affirm from a “neutral” rating to an “underweight” rating and set a $11.00 price objective for the company. in a research report on Thursday, July 6th. JPMorgan Chase & Co. boosted their target price on shares of Affirm from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Tuesday, August 22nd. BTIG Research initiated coverage on shares of Affirm in a research report on Tuesday, June 13th. They issued a “sell” rating and a $10.00 price objective for the company. Wedbush boosted their target price on shares of Affirm from $9.00 to $10.00 and gave the company an “underperform” rating in a research note on Friday, August 25th. Finally, Compass Point initiated coverage on shares of Affirm in a research note on Thursday, June 22nd. They issued a “neutral” rating and a $14.50 target price on the stock. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $16.22.

Affirm Stock Performance

The company has a current ratio of 11.81, a quick ratio of 11.81 and a debt-to-equity ratio of 2.13. The stock has a market capitalization of $7.17 billion, a PE ratio of -7.02 and a beta of 3.06. The firm’s fifty day moving average price is $18.17 and its two-hundred day moving average price is $14.69.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, August 24th. The company reported ($0.69) earnings per share for the quarter, beating the consensus estimate of ($0.87) by $0.18. The firm had revenue of $445.83 million for the quarter, compared to analysts’ expectations of $406.18 million. Affirm had a negative net margin of 62.05% and a negative return on equity of 38.95%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.65) EPS. As a group, equities research analysts forecast that Affirm Holdings, Inc. will post -2.81 EPS for the current year.

Insider Buying and Selling

In other Affirm news, major shareholder Private Ltd Gic sold 203,905 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $15.42, for a total value of $3,144,215.10. Following the completion of the transaction, the insider now owns 11,887,747 shares in the company, valued at $183,309,058.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 12.11% of the company’s stock.

Institutional Trading of Affirm

Large investors have recently made changes to their positions in the stock. Covestor Ltd acquired a new position in shares of Affirm in the 1st quarter valued at about $30,000. American International Group Inc. acquired a new position in Affirm during the 2nd quarter valued at approximately $33,000. Exchange Traded Concepts LLC acquired a new position in Affirm during the 2nd quarter valued at approximately $39,000. Parallel Advisors LLC boosted its position in Affirm by 36.4% during the 2nd quarter. Parallel Advisors LLC now owns 2,943 shares of the company’s stock worth $45,000 after acquiring an additional 786 shares during the period. Finally, IFP Advisors Inc boosted its position in Affirm by 340.4% during the 2nd quarter. IFP Advisors Inc now owns 3,281 shares of the company’s stock worth $319,000 after acquiring an additional 2,536 shares during the period. Institutional investors and hedge funds own 59.69% of the company’s stock.

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.