Affirm (NASDAQ:AFRM) COO Sells 100,000 Shares of Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 100,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00. Following the sale, the chief operating officer owned 117,984 shares in the company, valued at $9,443,439.36. This represents a 45.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Affirm Trading Down 0.3%

NASDAQ AFRM traded down $0.24 during trading hours on Tuesday, reaching $81.55. The company’s stock had a trading volume of 3,175,858 shares, compared to its average volume of 5,799,354. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The stock has a market cap of $27.31 billion, a P/E ratio of 74.14, a P/E/G ratio of 4.58 and a beta of 3.70. The firm has a fifty day simple moving average of $68.25 and a 200-day simple moving average of $62.83.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm had revenue of $943.95 million during the quarter, compared to analysts’ expectations of $995.27 million. During the same period in the prior year, the company posted $0.01 EPS. The company’s revenue was up 32.7% on a year-over-year basis. Equities analysts forecast that Affirm Holdings, Inc. will post 1.25 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AFRM. Robert W. Baird set a $70.00 price target on Affirm in a research note on Friday, May 8th. Mizuho increased their target price on shares of Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 14th. Zacks Research lowered shares of Affirm from a “strong-buy” rating to a “hold” rating in a report on Wednesday, April 29th. BTIG Research restated a “neutral” rating on shares of Affirm in a research report on Tuesday, May 26th. Finally, Needham & Company LLC upped their price objective on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $87.60.

Institutional Investors Weigh In On Affirm

Several large investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. lifted its position in shares of Affirm by 83.4% during the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock valued at $3,610,000 after acquiring an additional 22,054 shares during the period. Jefferies Financial Group Inc. grew its holdings in Affirm by 1,161.2% in the third quarter. Jefferies Financial Group Inc. now owns 171,269 shares of the company’s stock worth $12,516,000 after purchasing an additional 157,689 shares during the period. Capelight Capital Asset Management LP bought a new stake in Affirm in the fourth quarter valued at $4,912,000. Geode Capital Management LLC raised its holdings in shares of Affirm by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock valued at $408,433,000 after purchasing an additional 329,312 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Affirm by 60.7% during the third quarter. Swiss National Bank now owns 771,800 shares of the company’s stock valued at $56,403,000 after purchasing an additional 291,500 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.