Affirm Holdings, Inc. (NASDAQ:AFRM) Sees Significant Decrease in Short Interest

Affirm Holdings, Inc. (NASDAQ:AFRM) saw a significant decline in short interest during the month of September. As of September 30th, there was short interest totalling 19,350,000 shares, a decline of 8.4% from the September 15th total of 21,120,000 shares. Based on an average daily trading volume, of 9,040,000 shares, the short-interest ratio is presently 2.1 days. Approximately 7.7% of the company’s stock are short sold.

Affirm Stock Down 2.8 %

Shares of AFRM opened at $47.86 on Wednesday. The company has a market capitalization of $14.79 billion, a P/E ratio of -21.46 and a beta of 3.50. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. Affirm has a one year low of $15.97 and a one year high of $52.48. The business’s 50 day simple moving average is $37.81 and its 200-day simple moving average is $33.40.

Affirm (NASDAQ:AFRM) last announced its earnings results on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. The business had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. As a group, sell-side analysts predict that Affirm will post -0.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Christa S. Quarles sold 14,400 shares of Affirm stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares in the company, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Katherine Adkins sold 82,316 shares of Affirm stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total value of $3,704,220.00. Following the completion of the transaction, the insider now owns 91,499 shares in the company, valued at $4,117,455. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 112,075 shares of company stock valued at $4,803,786 over the last quarter. Insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC lifted its holdings in Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after buying an additional 540 shares in the last quarter. ORG Partners LLC lifted its holdings in Affirm by 80.0% during the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after buying an additional 551 shares in the last quarter. Myecfo LLC lifted its stake in shares of Affirm by 5.0% in the 3rd quarter. Myecfo LLC now owns 12,260 shares of the company’s stock valued at $500,000 after purchasing an additional 589 shares during the period. Commonwealth Equity Services LLC lifted its stake in shares of Affirm by 5.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 12,548 shares of the company’s stock valued at $379,000 after purchasing an additional 680 shares during the period. Finally, ORG Wealth Partners LLC acquired a new position in shares of Affirm in the 3rd quarter valued at $29,000. 69.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several research reports. Barclays boosted their price target on Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a research note on Monday, September 23rd. Susquehanna initiated coverage on Affirm in a research note on Friday, September 20th. They set a “positive” rating and a $52.00 price target on the stock. The Goldman Sachs Group boosted their price target on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target on the stock in a research note on Tuesday, October 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.50.

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.