Affirm (NASDAQ:AFRM) CFO Sells $573,230.00 in Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) CFO Robert O’hare sold 8,189 shares of Affirm stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $70.00, for a total transaction of $573,230.00. Following the transaction, the chief financial officer directly owned 1,368 shares of the company’s stock, valued at approximately $95,760. This trade represents a 85.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Affirm Stock Performance

Shares of AFRM traded down $0.70 during midday trading on Friday, reaching $67.99. 3,428,887 shares of the stock were exchanged, compared to its average volume of 7,123,469. The stock’s 50 day simple moving average is $71.87 and its 200 day simple moving average is $70.73. The company has a market cap of $22.44 billion, a P/E ratio of 101.48, a PEG ratio of 3.14 and a beta of 3.57. Affirm Holdings, Inc. has a twelve month low of $30.90 and a twelve month high of $100.00. The company has a quick ratio of 12.80, a current ratio of 12.80 and a debt-to-equity ratio of 2.40.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.12. The company had revenue of $933.34 million for the quarter, compared to analyst estimates of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.Affirm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.31) EPS. On average, sell-side analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

AFRM has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their target price on Affirm from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Truist Financial reduced their price target on Affirm from $90.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Bank of America upped their price objective on Affirm from $94.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, November 7th. JMP Securities lifted their target price on shares of Affirm from $75.00 to $105.00 and gave the stock a “market outperform” rating in a research report on Friday, August 29th. Finally, Citigroup raised shares of Affirm to a “strong-buy” rating in a report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and ten have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

Hedge Funds Weigh In On Affirm

Institutional investors have recently made changes to their positions in the stock. Aspire Capital Advisors LLC purchased a new stake in Affirm in the 2nd quarter valued at about $310,000. Truist Financial Corp boosted its stake in shares of Affirm by 236.6% in the 2nd quarter. Truist Financial Corp now owns 60,725 shares of the company’s stock worth $4,199,000 after buying an additional 42,686 shares during the last quarter. GraniteShares Advisors LLC bought a new position in shares of Affirm in the second quarter valued at approximately $554,000. Nordea Investment Management AB grew its holdings in shares of Affirm by 121.7% in the second quarter. Nordea Investment Management AB now owns 229,837 shares of the company’s stock valued at $15,882,000 after acquiring an additional 126,186 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Affirm during the second quarter valued at approximately $183,475,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.