Affirm (NASDAQ:AFRM) Shares Down 3.9%

Affirm Holdings, Inc. (NASDAQ:AFRM) dropped 3.9% during mid-day trading on Wednesday . The stock traded as low as $31.02 and last traded at $31.02. Approximately 649,696 shares changed hands during mid-day trading, a decline of 93% from the average daily volume of 8,948,418 shares. The stock had previously closed at $32.28.

Analyst Upgrades and Downgrades

AFRM has been the topic of several research analyst reports. BMO Capital Markets decreased their price target on shares of Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research report on Friday, May 10th. Royal Bank of Canada decreased their target price on shares of Affirm from $50.00 to $43.00 and set a “sector perform” rating on the stock in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a research report on Friday, February 9th. Wedbush reiterated an “underperform” rating and set a $20.00 target price on shares of Affirm in a research report on Friday, February 9th. Finally, Stephens lifted their target price on shares of Affirm from $6.00 to $16.00 and gave the company an “underweight” rating in a research report on Friday, February 9th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $27.53.

Affirm Stock Down 4.1 %

The company has a debt-to-equity ratio of 2.43, a current ratio of 12.94 and a quick ratio of 12.94. The stock’s 50 day simple moving average is $33.77 and its two-hundred day simple moving average is $36.96.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.27. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The company had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. During the same period in the previous year, the firm posted ($0.69) earnings per share. The company’s revenue was up 51.2% on a year-over-year basis. On average, equities research analysts anticipate that Affirm Holdings, Inc. will post -1.98 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total transaction of $297,945.12. Following the completion of the sale, the director now directly owns 60,000 shares of the company’s stock, valued at $1,927,200. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 13.05% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently modified their holdings of the business. Norges Bank acquired a new position in Affirm during the fourth quarter valued at approximately $67,310,000. Vanguard Group Inc. grew its holdings in Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock valued at $775,895,000 after purchasing an additional 1,316,901 shares during the period. Leo Wealth LLC acquired a new position in Affirm during the fourth quarter valued at approximately $57,647,000. Baillie Gifford & Co. grew its holdings in Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after purchasing an additional 749,368 shares during the period. Finally, Jupiter Asset Management Ltd. acquired a new position in Affirm during the first quarter valued at approximately $20,150,000. 69.29% of the stock is owned by 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.