Affirm (NASDAQ:AFRM) Shares Down 2% After Insider Selling

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price traded down 2% on Wednesday after an insider sold shares in the company. The stock traded as low as $28.78 and last traded at $28.78. 448,953 shares changed hands during trading, a decline of 95% from the average session volume of 8,545,255 shares. The stock had previously closed at $29.38.

Specifically, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $29.89, for a total value of $277,259.64. Following the sale, the director now owns 73,623 shares of the company’s stock, valued at approximately $2,200,591.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.05% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of recent analyst reports. The Goldman Sachs Group reissued a “buy” rating and issued a $42.00 price objective on shares of Affirm in a research note on Monday, June 24th. JMP Securities initiated coverage on Affirm in a research note on Friday, June 28th. They issued a “market perform” rating on the stock. Mizuho reissued a “buy” rating and issued a $65.00 price objective on shares of Affirm in a research note on Thursday, June 20th. BMO Capital Markets reduced their price objective on Affirm from $48.00 to $46.00 and set a “market perform” rating on the stock in a research note on Friday, May 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Thursday, May 9th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $32.66.

Affirm Stock Down 1.5 %

The business has a fifty day moving average of $31.67 and a 200 day moving average of $36.82. The company has a quick ratio of 12.94, a current ratio of 12.94 and a debt-to-equity ratio of 2.43.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) EPS for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. The business had revenue of $576.00 million during the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative return on equity of 22.06% and a negative net margin of 32.17%. The firm’s revenue was up 51.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.69) earnings per share. On average, equities research analysts predict that Affirm Holdings, Inc. will post -1.98 EPS for the current year.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Planned Solutions Inc. bought a new stake in shares of Affirm in the fourth quarter worth about $25,000. Creative Financial Designs Inc. ADV increased its holdings in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock worth $33,000 after acquiring an additional 300 shares in the last quarter. Raleigh Capital Management Inc. bought a new stake in shares of Affirm in the fourth quarter worth about $33,000. Global Wealth Strategies & Associates increased its holdings in shares of Affirm by 94.0% in the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares in the last quarter. Finally, Principal Securities Inc. bought a new stake in shares of Affirm in the fourth quarter worth about $49,000. 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.