Affirm Holdings, Inc. (NASDAQ:AFRM) Sees Large Growth in Short Interest

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of a large growth in short interest in November. As of November 15th, there was short interest totalling 20,030,000 shares, a growth of 9.2% from the October 31st total of 18,340,000 shares. Approximately 7.8% of the shares of the company are short sold. Based on an average daily volume of 11,720,000 shares, the days-to-cover ratio is presently 1.7 days.

Affirm Trading Up 2.4 %

Shares of Affirm stock opened at $70.01 on Monday. 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 has a twelve month low of $22.25 and a twelve month high of $70.88. The firm has a market capitalization of $21.99 billion, a PE ratio of -49.30 and a beta of 3.47. The firm’s 50-day moving average price is $49.29 and its 200 day moving average price is $37.98.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analyst estimates 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 previous year, the company posted ($0.57) earnings per share. On average, sell-side analysts predict that Affirm will post -0.53 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Barclays upped their target price on Affirm from $64.00 to $75.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Mizuho lifted their price target on Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Bank of America lifted their target price on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $52.53.

Insider Buying and Selling at Affirm

In related news, CFO Robert O’hare sold 79,039 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $70.01, for a total value of $5,533,520.39. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $40.02, for a total transaction of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This represents a 9.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 868,253 shares of company stock worth $52,186,668. 12.41% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Affirm

Several hedge funds and other institutional investors have recently modified their holdings of AFRM. Ridgewood Investments LLC acquired a new stake in shares of Affirm in the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new stake in shares of Affirm in the 3rd quarter worth $29,000. Allspring Global Investments Holdings LLC raised its holdings in shares of 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 acquiring an additional 540 shares during the period. ORG Partners LLC grew its holdings in shares of Affirm by 80.0% in the second quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock valued at $37,000 after purchasing an additional 551 shares during the period. Finally, Advisors Asset Management Inc. increased its position in Affirm by 168.2% during the third 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 last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

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.