Affirm (NASDAQ:AFRM) Stock Price Down 4.5%

Affirm Holdings, Inc. (NASDAQ:AFRM) dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $29.58 and last traded at $29.67. Approximately 903,594 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 9,717,815 shares. The stock had previously closed at $31.06.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Affirm from $24.00 to $35.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. The Goldman Sachs Group boosted their price target on shares of Affirm from $18.00 to $20.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Stephens boosted their price target on shares of Affirm from $6.00 to $16.00 and gave the stock an “underweight” 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, Needham & Company LLC started coverage on shares of Affirm in a research report on Wednesday, April 3rd. They set a “hold” rating on the stock. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.97.

Affirm Stock Performance

The company has a debt-to-equity ratio of 2.35, a quick ratio of 11.49 and a current ratio of 11.49. The company’s fifty day simple moving average is $37.25 and its two-hundred day simple moving average is $34.41.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, February 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.08. Affirm had a negative net margin of 39.19% and a negative return on equity of 25.10%. The firm had revenue of $591.11 million during the quarter, compared to analyst estimates of $523.92 million. On average, equities research analysts anticipate that Affirm Holdings, Inc. will post -2.45 earnings per share for the current year.

Insider Transactions at Affirm

In other news, Director Keith Rabois sold 9,276 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were sold at an average price of $34.39, for a total value of $319,001.64. Following the completion of the sale, the director now owns 78,552 shares in the company, valued at approximately $2,701,403.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.05% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors have recently bought and sold shares of the company. Creative Financial Designs Inc. ADV raised its stake in Affirm by 82.2% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after acquiring an additional 300 shares during the period. Global Wealth Strategies & Associates raised its stake in Affirm by 94.0% in the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock valued at $36,000 after acquiring an additional 470 shares during the period. Treasurer of the State of North Carolina raised its stake in Affirm by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 95,536 shares of the company’s stock valued at $2,032,000 after acquiring an additional 480 shares during the period. Planned Solutions Inc. bought a new stake in Affirm in the 4th quarter valued at about $25,000. Finally, Signaturefd LLC raised its stake in Affirm by 9.0% in the 3rd quarter. Signaturefd LLC now owns 6,382 shares of the company’s stock valued at $136,000 after acquiring an additional 528 shares during the period. Hedge funds and other 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.