Affirm (NASDAQ:AFRM) Stock Price Down 4.3% – Should You Sell?

Affirm Holdings, Inc. (NASDAQ:AFRM) shares were down 4.3% during mid-day trading on Thursday . The stock traded as low as $45.89 and last traded at $45.90. Approximately 1,648,837 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 8,732,903 shares. The stock had previously closed at $47.97.

Analyst Ratings Changes

Several brokerages have weighed in on AFRM. JMP Securities initiated coverage on shares of Affirm in a report on Friday, June 28th. They set a “market perform” rating for the company. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Finally, Bank of America boosted their price target on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a report on Thursday, August 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Affirm currently has a consensus rating of “Hold” and an average target price of $41.50.

Affirm Stock Performance

The company has a market cap of $13.77 billion, a P/E ratio of -19.97 and a beta of 3.50. The stock has a fifty day moving average price of $39.04 and a two-hundred day moving average price of $33.64. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, August 28th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.31. The firm had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. On average, equities analysts forecast that Affirm Holdings, Inc. will post -0.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the transaction, the insider now directly owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Christa S. Quarles sold 14,400 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $40.02, for a total transaction of $576,288.00. Following the sale, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,075 shares of company stock worth $4,803,786 over the last ninety days. Company insiders own 13.05% of the company’s stock.

Institutional Investors Weigh In On Affirm

Hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC purchased a new position in Affirm during the second quarter valued at approximately $45,219,000. Vanguard Group Inc. raised its holdings in shares of Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after acquiring an additional 1,316,901 shares in the last quarter. Artemis Investment Management LLP purchased a new stake in shares of Affirm during the third quarter worth $30,808,000. Baillie Gifford & Co. grew its stake in shares of Affirm by 4.2% in the 1st quarter. Baillie Gifford & Co. now owns 18,732,407 shares of the company’s stock valued at $697,969,000 after buying an additional 749,368 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Affirm in the 1st quarter valued at approximately $20,150,000. 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.