Affirm (NASDAQ:AFRM) Shares Gap Up – Here’s What Happened

Affirm Holdings, Inc. (NASDAQ:AFRM) gapped up before the market opened on Friday . The stock had previously closed at $56.76, but opened at $59.04. Affirm shares last traded at $57.10, with a volume of 1,417,063 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. JMP Securities upgraded shares of Affirm from a “market perform” rating to an “outperform” rating and set a $78.00 target price for the company in a report on Friday, December 20th. The Goldman Sachs Group increased their target price on Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. William Blair assumed coverage on Affirm in a research report on Wednesday, January 15th. They issued an “outperform” rating for the company. Mizuho increased their price objective on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $61.88.

Affirm Stock Down 1.2 %

The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock has a market cap of $17.62 billion, a PE ratio of -39.49 and a beta of 3.67. The company’s 50-day moving average price is $64.09 and its 200 day moving average price is $46.83.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.36) by $0.05. The business had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same quarter last year, the company posted ($0.57) EPS. As a group, analysts forecast that Affirm Holdings, Inc. will post -0.62 EPS for the current fiscal year.

Insider Transactions at Affirm

In other Affirm news, insider Katherine Adkins sold 200,000 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $55.05, for a total transaction of $11,010,000.00. Following the sale, the insider now directly owns 93,545 shares of the company’s stock, valued at $5,149,652.25. This trade represents a 68.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Libor Michalek sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the transaction, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $9,885,838. This trade represents a 38.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,323,478 shares of company stock valued at $86,285,371 over the last quarter. 12.41% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hanseatic Management Services Inc. boosted its position in shares of Affirm by 12.1% during the fourth 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 last quarter. KBC Group NV increased its holdings in shares of Affirm by 3.6% in the third quarter. KBC Group NV now owns 6,331 shares of the company’s stock worth $258,000 after purchasing an additional 222 shares during the last quarter. CIBC Asset Management Inc lifted its position in shares of Affirm by 3.2% in the third quarter. CIBC Asset Management Inc now owns 7,520 shares of the company’s stock worth $307,000 after buying an additional 233 shares in the last quarter. Waldron Private Wealth LLC boosted its stake in Affirm by 7.0% during the fourth quarter. Waldron Private Wealth LLC now owns 5,479 shares of the company’s stock valued at $334,000 after buying an additional 357 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Affirm by 356.5% during the 4th quarter. Geneos Wealth Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 410 shares in the last quarter. 69.29% of the stock is currently owned by institutional investors.

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.