Affirm Holdings, Inc. (NASDAQ:AFRM) Short Interest Up 25.7% in March

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 15,310,000 shares, an increase of 25.7% from the February 28th total of 12,180,000 shares. Based on an average daily trading volume, of 7,360,000 shares, the short-interest ratio is presently 2.1 days. Approximately 5.8% of the shares of the company are short sold.

Insider Activity at Affirm

In other Affirm news, Director Keith Rabois sold 16,088 shares of the firm’s 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 sale, the director now directly owns 61,520 shares in the company, valued at approximately $3,935,434.40. This trade represents a 20.73 % 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, Director Noel Bertram Watson sold 2,500 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $45.78, for a total transaction of $114,450.00. Following the transaction, the director now directly owns 38,997 shares of the company’s stock, valued at approximately $1,785,282.66. This trade represents a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 62,301 shares of company stock valued at $3,920,543 in the last quarter. Insiders own 12.41% of the company’s stock.

Hedge Funds Weigh In On Affirm

Several institutional investors and hedge funds have recently bought and sold shares of AFRM. Durable Capital Partners LP boosted its holdings in shares of 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 purchasing an additional 2,888,827 shares during the period. Norges Bank acquired a new stake in shares of Affirm during the 4th quarter valued at $139,949,000. Capital International Investors purchased a new position in shares of Affirm during the 4th quarter valued at $100,030,000. Foxhaven Asset Management LP acquired a new position in shares of Affirm in the fourth quarter worth $80,917,000. Finally, Voloridge Investment Management LLC purchased a new stake in shares of Affirm during the fourth quarter worth $76,738,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

AFRM has been the subject of several recent analyst reports. Morgan Stanley upped their target price on shares of Affirm from $39.00 to $55.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 28th. Wells Fargo & Company raised their target price on Affirm from $70.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Citizens Jmp raised Affirm from a “hold” rating to a “strong-buy” rating in a research note on Friday, December 20th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Finally, Royal Bank of Canada increased their target price on shares of Affirm from $67.00 to $81.00 and gave the company a “sector perform” rating in a research report on Friday, February 7th. Eight investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.76.

Affirm Stock Performance

Affirm stock opened at $45.51 on Wednesday. Affirm has a fifty-two week low of $22.25 and a fifty-two week high of $82.53. The firm’s 50 day simple moving average is $59.42 and its 200-day simple moving average is $56.54. 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 $14.47 billion, a P/E ratio of -70.02 and a beta of 3.63.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.44. Affirm had a negative net margin of 7.10% and a negative return on equity of 7.25%. As a group, equities research analysts predict that Affirm will post -0.18 EPS for the current 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.