Affirm (NASDAQ:AFRM) Shares Down 5.8% - Time to Sell?

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) shares fell 5.8% during trading on Tuesday . The stock traded as low as $66.87 and last traded at $67.12. 4,985,372 shares were traded during trading, a decline of 34% from the average session volume of 7,506,720 shares. The stock had previously closed at $71.23.

Analyst Upgrades and Downgrades

Several research firms have commented on AFRM. JMP Securities reduced their price objective on Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research note on Friday, May 9th. Compass Point upgraded Affirm from a "neutral" rating to a "buy" rating and upped their price target for the stock from $61.00 to $64.00 in a report on Wednesday, March 19th. Stephens began coverage on Affirm in a report on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 price target on the stock. Morgan Stanley lowered their price target on Affirm from $65.00 to $60.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Finally, Seaport Res Ptn upgraded Affirm to a "hold" rating in a report on Monday, March 24th. Nine equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Affirm presently has a consensus rating of "Moderate Buy" and an average price target of $65.90.

Affirm Price Performance

The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47. The stock's fifty day moving average is $57.20 and its 200-day moving average is $56.35. The stock has a market capitalization of $21.85 billion, a P/E ratio of -322.52, a PEG ratio of 2.42 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative net margin of 2.07% and a negative return on equity of 2.22%. The company had revenue of $783.14 million during the quarter, compared to analysts' expectations of $782.98 million. During the same period in the prior year, the company earned ($0.43) earnings per share. The business's quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts anticipate that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the company's stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $60.86, for a total transaction of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares in the company, valued at $2,221,207.42. This represents a 6.41% 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. Also, Director Christa S. Quarles sold 754 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total transaction of $50,842.22. Following the sale, the director owned 137,241 shares of the company's stock, valued at $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,343 shares of company stock worth $1,023,531 over the last ninety days. Company insiders own 11.82% of the company's stock.

Hedge Funds Weigh In On Affirm

Large investors have recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Affirm in the 4th quarter valued at approximately $28,000. Allworth Financial LP lifted its position in shares of Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after purchasing an additional 219 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new position in Affirm during the 4th quarter worth $40,000. Strategic Investment Solutions Inc. IL bought a new position in Affirm in the fourth quarter valued at about $43,000. Finally, Creative Financial Designs Inc. ADV boosted its stake in shares of Affirm by 640.0% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 740 shares of the company's stock valued at $45,000 after purchasing an additional 640 shares during the last quarter. Institutional investors and hedge funds 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.

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