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

Affirm Holdings, Inc. (NASDAQ:AFRM) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 12,180,000 shares, a decrease of 15.0% from the February 13th total of 14,330,000 shares. Currently, 4.6% of the company’s stock are sold short. Based on an average trading volume of 6,890,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

AFRM has been the topic of a number of research analyst reports. UBS Group boosted their target price on Affirm from $46.00 to $62.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. The Goldman Sachs Group cut their price objective on Affirm from $90.00 to $56.00 and set a “buy” rating on the stock in a research report on Tuesday. Susquehanna lowered Affirm from a “positive” rating to a “neutral” rating and set a $57.00 target price for the company. in a research report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on Affirm from $56.00 to $74.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and increased their price target for the company from $70.00 to $82.00 in a research report on Thursday, December 19th. Nine research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $68.24.

Insider Buying and Selling

In related news, Director Keith Rabois sold 16,088 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $63.97, for a total value of $1,029,149.36. Following the completion of the sale, the director now directly owns 61,520 shares of the company’s stock, valued at approximately $3,935,434.40. This represents a 20.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Robert O’hare sold 6,541 shares of Affirm stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $62.28, for a total transaction of $407,373.48. Following the transaction, the chief financial officer now directly owns 2,963 shares in the company, valued at $184,535.64. This represents a 68.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,801 shares of company stock worth $3,806,093 in the last quarter. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

A number of large investors have recently modified their holdings of AFRM. Capital Research Global Investors boosted its holdings in Affirm by 2.0% in the 4th quarter. Capital Research Global Investors now owns 24,264,396 shares of the company’s stock valued at $1,477,747,000 after purchasing an additional 470,409 shares during the period. Vanguard Group Inc. raised its position in shares of Affirm by 3.4% in the fourth quarter. Vanguard Group Inc. now owns 21,815,563 shares of the company’s stock worth $1,328,568,000 after buying an additional 716,574 shares in the last quarter. Capital World Investors boosted its stake in Affirm by 0.4% during the fourth quarter. Capital World Investors now owns 18,339,165 shares of the company’s stock valued at $1,116,861,000 after buying an additional 72,582 shares during the period. Durable Capital Partners LP grew its position in Affirm by 97.3% during the fourth quarter. Durable Capital Partners LP now owns 5,858,283 shares of the company’s stock worth $356,769,000 after buying an additional 2,888,827 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. increased its stake in Affirm by 11.6% in the 4th quarter. Jericho Capital Asset Management L.P. now owns 5,198,039 shares of the company’s stock worth $316,561,000 after acquiring an additional 538,892 shares during the last quarter. 69.29% of the stock is currently owned by institutional investors.

Affirm Trading Down 8.9 %

NASDAQ:AFRM opened at $43.70 on Wednesday. Affirm has a 1 year low of $22.25 and a 1 year high of $82.53. The stock’s fifty day moving average price is $61.22 and its two-hundred day moving average price is $56.00. The company has a debt-to-equity ratio of 2.68, a current ratio of 11.26 and a quick ratio of 11.26. The company has a market cap of $13.90 billion, a P/E ratio of -67.23 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 7.25% and a negative net margin of 7.10%. As a group, analysts expect that Affirm will post -0.18 EPS for the current year.

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.