Affirm Holdings, Inc. (NASDAQ:AFRM) Short Interest Update

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of a large drop in short interest in December. As of December 15th, there was short interest totalling 15,020,000 shares, a drop of 10.0% from the November 30th total of 16,690,000 shares. Currently, 5.8% of the shares of the stock are short sold. Based on an average daily trading volume, of 9,560,000 shares, the short-interest ratio is currently 1.6 days.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. upped their target price on shares of Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $46.00 price objective on shares of Affirm in a research note on Friday, October 4th. The Goldman Sachs Group raised their target price on shares of Affirm from $57.00 to $78.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Barclays lifted their price objective on shares of Affirm from $64.00 to $75.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $60.94.

Insiders Place Their Bets

In other news, Director Noel Bertram Watson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $72.05, for a total transaction of $180,125.00. Following the transaction, the director now owns 41,497 shares of the company’s stock, valued at approximately $2,989,858.85. This represents a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert O’hare sold 100,938 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $55.00, for a total value of $5,551,590.00. The disclosure for this sale can be found here. Insiders sold 1,300,851 shares of company stock valued at $84,875,518 in the last three months. Corporate insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of institutional investors have recently added to or reduced their stakes in AFRM. Bank of Montreal Can raised its position in shares of Affirm by 2,305.3% during the 2nd quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after buying an additional 187,790 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in Affirm in the third quarter valued at $1,419,000. Quest Partners LLC purchased a new stake in Affirm in the third quarter valued at $391,000. International Assets Investment Management LLC purchased a new position in shares of Affirm during the 3rd quarter worth $731,000. Finally, Entropy Technologies LP acquired a new position in Affirm during the 3rd quarter worth about $464,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm Price Performance

AFRM traded down $1.84 during midday trading on Monday, hitting $62.80. 546,984 shares of the company traded hands, compared to its average volume of 8,891,628. The company has a market capitalization of $19.72 billion, a price-to-earnings ratio of -44.23 and a beta of 3.66. Affirm has a 52-week low of $22.25 and a 52-week high of $73.34. The business has a 50 day simple moving average of $59.34 and a two-hundred day simple moving average of $43.18. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the company earned ($0.57) EPS. On average, equities analysts forecast that Affirm will post -0.53 earnings per share for the current fiscal year.

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.