Affirm (NASDAQ:AFRM) Stock Price Down 14% Following Insider Selling

Affirm Holdings, Inc. (NASDAQ:AFRM)’s share price dropped 14% during trading on Thursday following insider selling activity. The stock traded as low as $41.67 and last traded at $41.05. Approximately 1,608,142 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 8,037,148 shares. The stock had previously closed at $47.75.

Specifically, Director Keith Rabois sold 16,088 shares of the company’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $45.41, for a total value of $730,556.08. Following the completion of the transaction, the director now owns 45,432 shares of the company’s stock, valued at approximately $2,063,067.12. This represents a 26.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analysts Set New Price Targets

AFRM has been the topic of several research analyst reports. Seaport Res Ptn upgraded shares of Affirm to a “hold” rating in a research report on Monday, March 24th. Susquehanna downgraded Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Tuesday, January 21st. Wells Fargo & Company raised their target price on Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group lifted their price objective on Affirm from $46.00 to $62.00 and gave the company 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 investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Affirm presently has an average rating of “Moderate Buy” and a consensus price target of $69.76.

Affirm Trading Down 8.1 %

The business has a fifty day moving average price of $58.49 and a 200-day moving average price of $56.30. The company has a market cap of $11.37 billion, a P/E ratio of -55.00 and a beta of 3.68. The company has a quick ratio of 11.26, a current ratio of 11.26 and a debt-to-equity ratio of 2.68.

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 the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. On average, analysts forecast that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Institutional Trading of Affirm

Large investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. increased its holdings in Affirm by 12.1% during the 4th quarter. Hanseatic Management Services Inc. now owns 1,797 shares of the company’s stock worth $109,000 after acquiring an additional 194 shares during the period. Venturi Wealth Management LLC lifted its position in Affirm by 29.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,422 shares of the company’s stock valued at $87,000 after buying an additional 325 shares during the period. Prestige Wealth Management Group LLC boosted its position in shares of Affirm by 78.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock worth $46,000 after purchasing an additional 332 shares in the last quarter. Waldron Private Wealth LLC grew its position in Affirm by 7.0% during the 4th quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock valued at $334,000 after purchasing an additional 357 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its stake in shares of Affirm by 356.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 410 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

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.