Key Points
- Affirm COO Michael Linford sold 100,000 shares on June 26 at an average price of $80.04, totaling about $8.0 million. The sale was made under a pre-arranged Rule 10b5-1 plan, and Linford’s ownership fell by 45.87% to 117,984 shares.
- Affirm shares were down 0.3% after opening at $81.55, though the stock remains well above its 52-week low of $42.10 and near its 52-week high of $100.00. The company has a market cap of $27.31 billion and a high beta of 3.70, indicating notable volatility.
- Affirm’s latest quarterly results beat earnings expectations, posting $0.30 EPS versus the $0.17 estimate, while revenue rose 32.7% year over year to $943.95 million. Analysts remain generally positive, with a Moderate Buy consensus and an average price target of $87.60.
Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) COO Michael Linford sold 100,000 shares of the company's stock in a transaction that occurred 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 transaction, the chief operating officer directly owned 117,984 shares in the company, valued at approximately $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Affirm Stock Down 0.3%
Shares of NASDAQ:AFRM opened at $81.55 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 11.32 and a current ratio of 11.32. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $100.00. The business's 50 day simple moving average is $68.59 and its two-hundred day simple moving average is $62.91. The firm has a market cap of $27.31 billion, a P/E ratio of 74.14, a PEG ratio of 4.64 and a beta of 3.70.
Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, May 7th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The company's quarterly revenue was up 32.7% on a year-over-year basis. As a group, research analysts forecast that Affirm Holdings, Inc. will post 1.24 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have weighed in on AFRM. Cantor Fitzgerald upped their price objective on shares of Affirm from $61.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, April 21st. Bank of America lifted their price objective on shares of Affirm from $82.00 to $88.00 and gave the company a "buy" rating in a report on Monday, May 11th. Truist Financial boosted their target price on shares of Affirm from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Thursday, May 28th. Oppenheimer restated an "outperform" rating and issued a $87.00 target price on shares of Affirm in a report on Friday, May 8th. Finally, Susquehanna raised their price target on shares of Affirm from $100.00 to $105.00 and gave the company a "positive" rating in a research report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $87.60.
Check Out Our Latest Analysis on Affirm
Hedge Funds Weigh In On Affirm
A number of hedge funds have recently bought and sold shares of AFRM. SBI Securities Co. Ltd. lifted its holdings in Affirm by 83.4% during the fourth quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company's stock valued at $3,610,000 after purchasing an additional 22,054 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in shares of 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 in the last quarter. Capelight Capital Asset Management LP purchased a new position in shares of Affirm in the fourth quarter worth about $4,912,000. Geode Capital Management LLC raised its position in shares of Affirm by 6.4% in 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 position in shares of Affirm by 60.7% in 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. 69.29% of the stock is owned by hedge funds and other institutional investors.
Affirm Company Profile
(
Get Free Report)
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.
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