Affirm (NASDAQ:AFRM) Shares Gap Down to $49.22

Affirm Holdings, Inc. (NASDAQ:AFRMGet Free Report)’s share price gapped down before the market opened on Friday . The stock had previously closed at $49.22, but opened at $46.23. Affirm shares last traded at $45.44, with a volume of 11,120,966 shares trading hands.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on AFRM shares. Deutsche Bank Aktiengesellschaft lifted their price target on Affirm from $24.00 to $35.00 and gave the company a “hold” rating in a report on Friday. Wedbush reiterated an “underperform” rating and issued a $20.00 price target on shares of Affirm in a report on Friday. Wells Fargo & Company lifted their price target on Affirm from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, November 9th. JPMorgan Chase & Co. lifted their price target on Affirm from $35.00 to $41.00 and gave the company a “neutral” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price target on Affirm from $18.00 to $20.00 and gave the company a “neutral” rating in a report on Friday. Six analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Affirm has an average rating of “Hold” and an average target price of $26.81.

Read Our Latest Report on Affirm

Affirm Trading Down 10.9 %

The stock has a 50-day simple moving average of $43.69 and a 200 day simple moving average of $28.64. The company has a current ratio of 13.25, a quick ratio of 13.25 and a debt-to-equity ratio of 2.19. The company has a market cap of $13.23 billion, a price-to-earnings ratio of -17.61 and a beta of 3.72.

Affirm (NASDAQ:AFRMGet Free Report) last issued its quarterly earnings results on Wednesday, November 8th. The company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.65). Affirm had a negative return on equity of 25.34% and a negative net margin of 39.19%. The firm had revenue of $496.55 million for the quarter, compared to analyst estimates of $444.48 million. During the same period in the prior year, the firm posted ($0.86) EPS. The business’s revenue was up 37.3% compared to the same quarter last year. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, CFO Michael Linford sold 65,000 shares of Affirm stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $50.00, for a total transaction of $3,250,000.00. Following the completion of the sale, the chief financial officer now owns 99,063 shares of the company’s stock, valued at approximately $4,953,150. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Private Ltd Gic sold 2,906,591 shares of the business’s stock in a transaction dated Monday, December 11th. The stock was sold at an average price of $40.02, for a total value of $116,321,771.82. Following the completion of the transaction, the insider now owns 1,592,923 shares of the company’s stock, valued at approximately $63,748,778.46. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael Linford sold 65,000 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $50.00, for a total value of $3,250,000.00. Following the completion of the transaction, the chief financial officer now directly owns 99,063 shares of the company’s stock, valued at approximately $4,953,150. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,036,591 shares of company stock valued at $122,951,772. 13.05% of the stock is owned by company insiders.

Hedge Funds Weigh In On Affirm

Several institutional investors and hedge funds have recently modified their holdings of the stock. Creative Financial Designs Inc. ADV lifted its holdings in shares of 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 buying an additional 300 shares during the period. Treasurer of the State of North Carolina increased its stake in shares of 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 purchasing an additional 480 shares in the last quarter. Planned Solutions Inc. purchased a new position in shares of Affirm in the 4th quarter valued at about $25,000. Signaturefd LLC increased its stake in shares of 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 purchasing an additional 528 shares in the last quarter. Finally, Covestor Ltd purchased a new position in shares of Affirm in the 1st quarter valued at about $30,000. Institutional investors and hedge funds own 59.69% of the company’s stock.

About Affirm

(Get Free Report)

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.

Read More

Receive News & Ratings for Affirm Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Affirm and related companies with MarketBeat.com's FREE daily email newsletter.