Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) Director Sells 2,500 Shares of Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) Director Noel Bertram Watson sold 2,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $72.05, for a total value of $180,125.00. Following the sale, the director now owns 41,497 shares in the company, valued at approximately $2,989,858.85. This represents a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Affirm Stock Down 10.7 %

Shares of NASDAQ:AFRM traded down $7.55 during mid-day trading on Wednesday, reaching $63.34. 18,188,404 shares of the stock were exchanged, compared to its average volume of 9,027,552. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $73.34. The stock’s 50 day simple moving average is $56.66 and its 200-day simple moving average is $41.50. The company has a market cap of $19.89 billion, a P/E ratio of -44.61 and a beta of 3.66. The company has a quick ratio of 12.60, a current ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period last year, the firm earned ($0.57) earnings per share. As a group, equities research analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Institutional Trading of Affirm

Several hedge funds have recently modified their holdings of the stock. Ridgewood Investments LLC purchased a new position in shares of Affirm in the second quarter worth about $27,000. ORG Wealth Partners LLC bought a new position in Affirm during the third quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC grew its stake in shares of Affirm by 82.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after buying an additional 540 shares during the last quarter. Advisors Asset Management Inc. increased its stake in Affirm by 168.2% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares during the period. Finally, Venturi Wealth Management LLC boosted its position in Affirm by 200.5% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock valued at $45,000 after buying an additional 732 shares during the period. Institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AFRM shares. Needham & Company LLC reissued a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Susquehanna raised their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research note on Friday, November 8th. The Goldman Sachs Group raised their target price on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Bank of America increased their target price on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $46.00 price target on shares of Affirm in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $58.21.

About Affirm

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.