Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) President Sells 100,000 Shares of Stock

by · The Markets Daily

Affirm Holdings, Inc. (NASDAQ:AFRM – Get Free Report) President Libor Michalek sold 100,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.00, for a total transaction of $6,200,000.00. Following the sale, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $9,885,838. The trade was a 38.54 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Affirm Stock Performance

Shares of NASDAQ AFRM traded down $0.77 during midday trading on Wednesday, hitting $63.19. The company’s stock had a trading volume of 7,703,718 shares, compared to its average volume of 9,083,412. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of -45.04 and a beta of 3.47. The stock has a fifty day moving average price of $45.50 and a 200 day moving average price of $36.11. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $64.56. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50.

Affirm (NASDAQ:AFRM – Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share for the quarter, beating the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million for the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same period in the prior year, the business posted ($0.57) earnings per share. On average, research analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current fiscal year.

Institutional Trading of Affirm

A number of hedge funds have recently made changes to their positions in the stock. ORG Wealth Partners LLC purchased a new position in shares of Affirm in the 3rd quarter worth about $29,000. Ridgewood Investments LLC purchased a new position in shares of Affirm in the second quarter worth $27,000. Advisors Asset Management Inc. boosted its position in Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock valued at $44,000 after buying an additional 671 shares during the period. Venturi Wealth Management LLC grew its stake in shares of Affirm by 200.5% in the third quarter. Venturi Wealth Management LLC now owns 1,097 shares of the company’s stock worth $45,000 after purchasing an additional 732 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Affirm by 82.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after acquiring an additional 540 shares in the last quarter. 69.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

AFRM has been the topic of a number of recent research reports. Mizuho raised their price target on shares of Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price target on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $22.00 to $37.00 in a research report on Wednesday, October 9th. Finally, Barclays lifted their price target on shares of Affirm from $54.00 to $64.00 and gave the stock an “overweight” rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $46.85.

Read Our Latest Research Report on AFRM

About Affirm

(Get Free Report)

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.

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