Affirm (NASDAQ:AFRM) Shares Down 14% on Insider Selling

Affirm Holdings, Inc. (NASDAQ:AFRM) fell 14% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $41.67 and last traded at $41.05. 1,608,142 shares changed hands during trading, a decline of 80% from the average session volume of 8,037,148 shares. The stock had previously closed at $47.75.

Specifically, Director Keith Rabois sold 16,088 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the transaction, the director now directly owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. The trade was a 26.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research report on Monday, December 16th. The Goldman Sachs Group cut their price objective on shares of Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday, March 18th. Barclays boosted their target price on Affirm from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Monday, February 10th. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price target on the stock. in a report on Tuesday, January 21st. Finally, Jefferies Financial Group upgraded Affirm from a “hold” rating to a “buy” rating and boosted their price objective for the company from $70.00 to $82.00 in a report on Thursday, December 19th. Eight investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $69.76.

Affirm Trading Down 8.1 %

The stock has a market capitalization of $11.37 billion, a PE ratio of -55.00 and a beta of 3.68. The company has a current ratio of 11.26, a quick ratio of 11.26 and a debt-to-equity ratio of 2.68. The firm has a 50-day moving average price of $58.49 and a 200-day moving average price of $56.30.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, February 6th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, equities analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Institutional Trading of Affirm

Large investors have recently bought and sold shares of the company. Durable Capital Partners LP grew its stake in shares of Affirm by 97.3% during the 4th quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after acquiring an additional 2,888,827 shares during the period. Norges Bank bought a new position in Affirm during the fourth quarter worth about $139,949,000. Capital International Investors bought a new position in Affirm during the fourth quarter worth about $100,030,000. Foxhaven Asset Management LP purchased a new position in shares of Affirm in the fourth quarter worth about $80,917,000. Finally, Voloridge Investment Management LLC bought a new stake in shares of Affirm in the fourth quarter valued at approximately $76,738,000. 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.