Affirm (NASDAQ:AFRM) Stock Price Down 7.7%

Affirm Holdings, Inc. (NASDAQ:AFRM) shares fell 7.7% on Wednesday . The stock traded as low as $31.54 and last traded at $32.20. 11,542,971 shares were traded during trading, an increase of 27% from the average session volume of 9,068,305 shares. The stock had previously closed at $34.90.

Analyst Ratings Changes

A number of research analysts recently issued reports on AFRM shares. Wedbush restated an “underperform” rating and set a $20.00 price objective on shares of Affirm in a research report on Friday, February 9th. Royal Bank of Canada lifted their price target on Affirm from $26.00 to $50.00 and gave the company a “sector perform” rating in a report on Friday, February 9th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Affirm in a research report on Wednesday. BMO Capital Markets boosted their price target on Affirm from $44.00 to $47.00 and gave the company a “market perform” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group raised their price objective on shares of Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $27.86.

Affirm Trading Down 9.5 %

The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -12.67 and a beta of 3.56. The company has a 50-day moving average price of $34.72 and a 200-day moving average price of $35.96. The company has a quick ratio of 11.49, a current ratio of 11.49 and a debt-to-equity ratio of 2.35.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.20) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.08. The firm had revenue of $591.11 million during the quarter, compared to analysts’ expectations of $523.92 million. Affirm had a negative return on equity of 25.10% and a negative net margin of 39.19%. Research analysts predict that Affirm Holdings, Inc. will post -2.45 EPS for the current fiscal year.

Insider Buying and Selling at Affirm

In other news, Director Keith Rabois sold 9,276 shares of Affirm stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $32.12, for a total value of $297,945.12. Following the completion of the transaction, the director now owns 60,000 shares in the company, valued at $1,927,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in Affirm in the fourth quarter worth $67,310,000. Leo Wealth LLC acquired a new stake in Affirm during the 4th quarter worth approximately $57,647,000. Vanguard Group Inc. boosted its holdings in shares of Affirm by 4.1% in the fourth quarter. Vanguard Group Inc. now owns 19,506,902 shares of the company’s stock valued at $958,569,000 after buying an additional 769,843 shares during the period. Baillie Gifford & Co. increased its position in shares of Affirm by 4.2% during the first quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock worth $697,969,000 after acquiring an additional 749,368 shares in the last quarter. Finally, RJA Asset Management LLC acquired a new stake in shares of Affirm during the first quarter worth $14,808,000. Institutional investors own 69.29% 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.