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

Affirm Holdings, Inc. (NASDAQ:AFRM) shares traded down 14% on Thursday after an insider sold shares in the company. 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 Affirm 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 sale, the director now owns 45,432 shares of the company’s stock, valued at $2,063,067.12. The trade was a 26.15 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, February 7th. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 price objective on the stock. in a research report on Tuesday, January 21st. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and raised their price target for the company from $70.00 to $82.00 in a report on Thursday, December 19th. UBS Group boosted their price objective on shares of Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Citizens Jmp upgraded shares of Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Eight research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $69.76.

Affirm Price Performance

The firm has a 50-day simple moving average of $58.49 and a two-hundred day simple moving average of $56.30. 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 company has a market capitalization of $11.37 billion, a price-to-earnings ratio of -55.00 and a beta of 3.68.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates 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, analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently modified their holdings of the stock. Itau Unibanco Holding S.A. purchased a new stake in Affirm during the 4th quarter worth approximately $28,000. Geneos Wealth Management Inc. raised its position in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares during the last quarter. R Squared Ltd purchased a new position in shares of Affirm in the fourth quarter worth about $33,000. Coppell Advisory Solutions LLC acquired a new position in Affirm during the fourth quarter worth about $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Affirm during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.