Affirm (NASDAQ:AFRM) Trading Down 4.7% – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM) shares traded down 4.7% during trading on Monday . The company traded as low as $71.23 and last traded at $74.14. Approximately 2,045,226 shares changed hands during trading, a decline of 62% from the average session volume of 5,313,411 shares. The stock had previously closed at $77.76.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of recent analyst reports. Bank of America lifted their price objective on shares of Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research note on Friday. Needham & Company LLC raised their target price on shares of Affirm from $90.00 to $100.00 and gave the company a “buy” rating in a research note on Friday. Zacks Research downgraded shares of Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Barclays upped their price target on shares of Affirm from $97.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Citigroup reiterated a “market outperform” rating on shares of Affirm in a report on Friday. Twenty-two research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $98.84.

Affirm Stock Performance

The company has a fifty day moving average price of $77.45 and a two-hundred day moving average price of $64.64. The firm has a market cap of $24.85 billion, a price-to-earnings ratio of 13.44, a price-to-earnings-growth ratio of 3.13 and a beta of 3.71. The company has a debt-to-equity ratio of 1.82, a current ratio of 11.80 and a quick ratio of 11.80.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The firm had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the company earned $0.20 earnings per share. Affirm’s revenue was up 33.1% compared to the same quarter last year. As a group, equities research analysts expect that Affirm Holdings, Inc. will post 1.75 EPS for the current year.

Insider Buying and Selling at Affirm

In other news, COO Michael Linford sold 100,000 shares of Affirm stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the transaction, the chief operating officer owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 11.01% of the company’s stock.

Institutional Trading of Affirm

A number of large investors have recently added to or reduced their stakes in AFRM. Fifth Third Bancorp lifted its holdings in shares of Affirm by 63.6% during the fourth quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock valued at $39,000 after acquiring an additional 203 shares during the period. UMB Bank n.a. grew its holdings in shares of Affirm by 36.6% in the 4th quarter. UMB Bank n.a. now owns 783 shares of the company’s stock worth $58,000 after purchasing an additional 210 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Swiss Life Asset Management Ltd increased its position in shares of Affirm by 1.1% during the 4th quarter. Swiss Life Asset Management Ltd now owns 22,296 shares of the company’s stock worth $1,659,000 after purchasing an additional 247 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Affirm by 3.6% during the 1st quarter. QRG Capital Management Inc. now owns 9,684 shares of the company’s stock valued at $444,000 after purchasing an additional 340 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.