Katherine Adkins Sells 41,664 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) insider Katherine Adkins sold 41,664 shares of the business’s stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at $11,513,717.67. The trade was a 21.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katherine Adkins also recently made the following trade(s):

• On Tuesday, September 1st, Katherine Adkins sold 41,664 shares of Affirm stock. The shares were sold at an average price of $70.55, for a total value of $2,939,395.20.

Affirm Stock Performance

Shares of Affirm stock opened at $72.35 on Friday. The business’s fifty day simple moving average is $77.19 and its 200 day simple moving average is $65.24. The firm has a market capitalization of $24.41 billion, a P/E ratio of 13.11, a price-to-earnings-growth ratio of 3.04 and a beta of 3.61. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $93.20. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The business’s revenue for the quarter was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.20 EPS. As a group, analysts anticipate that Affirm Holdings, Inc. will post 1.87 EPS for the current year.

Hedge Funds Weigh In On Affirm

Several large investors have recently modified their holdings of AFRM. Corient Private Wealth LP boosted its holdings in Affirm by 101.4% in the 2nd quarter. Corient Private Wealth LP now owns 31,063 shares of the company’s stock worth $2,533,000 after buying an additional 15,642 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Affirm during the 2nd quarter valued at $6,158,000. California State Teachers Retirement System raised its holdings in Affirm by 7,715.3% during the 2nd quarter. California State Teachers Retirement System now owns 29,932,275 shares of the company’s stock valued at $2,440,977,000 after acquiring an additional 29,549,277 shares during the period. Readystate Asset Management LP lifted its position in shares of Affirm by 4.6% during the second quarter. Readystate Asset Management LP now owns 67,315 shares of the company’s stock worth $5,490,000 after acquiring an additional 2,970 shares in the last quarter. Finally, Aspire Capital Advisors LLC lifted its position in shares of Affirm by 8.2% during the second quarter. Aspire Capital Advisors LLC now owns 8,507 shares of the company’s stock worth $694,000 after acquiring an additional 647 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Affirm News Roundup

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Analyst support remains strong: Mizuho Securities initiated or reiterated a Buy rating for Affirm, while Truist raised its price target from $83 to $85 and maintained a Buy rating. Scotiabank also began coverage with a Sector Outperform recommendation. These actions reinforce the bullish view that Affirm can continue expanding its payments and lending business. Affirm Receives a Buy from Mizuho Securities Scotiabank Initiates Coverage of Affirm
• Positive Sentiment: Demand may be benefiting from consumer pressure: Inflation and elevated gas costs are encouraging consumers to use installment-payment products, potentially supporting transaction volume and revenue growth. Affirm’s disciplined underwriting is viewed as a way to limit rising credit risk. Consumer Pressure Rises, but Demand for Affirm’s Services Also Rises
• Neutral Sentiment: Recent fundamentals provide support: Affirm’s latest quarterly revenue increased 33.1% year over year, and reported EPS substantially exceeded consensus estimates, although revenue was below expectations. Analysts overall maintain a Moderate Buy consensus, with an average price target of $99.12.
• Negative Sentiment: Insider selling is a near-term overhang: COO and director-level insider sales totaling roughly $10 million were reported, including Katherine Adkins’ sale of 41,664 shares. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their value as a signal of current management sentiment but may still pressure the stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings upgraded shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 28th. Sanford C. Bernstein raised their price target on shares of Affirm from $100.00 to $110.00 and gave the stock an “outperform” rating in a research note on Monday. Piper Sandler lifted their price target on shares of Affirm from $103.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, August 28th. Robert W. Baird upped their price objective on Affirm from $70.00 to $82.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Finally, Mizuho increased their price objective on Affirm from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, May 14th. Twenty-three research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.12.

Affirm Company Profile

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.