Key Points
- Affirm COO Michael Linford sold 79,219 shares at an average price of $90.01, generating $7.13 million. The Rule 10b5-1 transaction reduced his direct ownership by 39.62% to 120,713 shares.
- Affirm recently reported quarterly EPS of $4.62, far above the $0.35 analyst estimate, while revenue increased 33.1% year over year to $1.07 billion, slightly below expectations.
- Analyst sentiment remains positive, with 22 Buy ratings and eight Holds; the stock has a “Moderate Buy” consensus and an average price target of $99.20, despite shares trading down 6.1% to $69.94.
Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) COO Michael Linford sold 79,219 shares of Affirm stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $90.01, for a total value of $7,130,502.19. Following the sale, the chief operating officer directly owned 120,713 shares in the company, valued at approximately $10,865,377.13. The trade was a 39.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Linford also recently made the following trade(s):
- On Friday, June 26th, Michael Linford sold 100,000 shares of Affirm stock. The stock was sold at an average price of $80.04, for a total value of $8,004,000.00.
Affirm Trading Down 6.1%
AFRM opened at $69.94 on Wednesday. The stock has a market cap of $23.42 billion, a PE ratio of 12.67, a PEG ratio of 2.91 and a beta of 3.61. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The business has a 50 day moving average of $77.45 and a 200-day moving average of $64.84. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $93.20.
Affirm (NASDAQ:AFRM - Get Free Report) last posted its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $4.27. The business 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 firm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.20 earnings per share. Equities research analysts predict that Affirm Holdings, Inc. will post 1.8 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Affirm from $103.00 to $115.00 and gave the stock an "overweight" rating in a research note on Friday. Barclays raised their price objective on Affirm from $97.00 to $105.00 and gave the company an "overweight" rating in a research report on Friday. Wolfe Research reissued an "outperform" rating on shares of Affirm in a report on Friday. Truist Financial lifted their price target on Affirm from $80.00 to $83.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, Compass Point set a $100.00 price objective on shares of Affirm in a research note on Friday, July 17th. Twenty-two research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, Affirm currently has an average rating of "Moderate Buy" and an average target price of $99.20.
Get Our Latest Research Report on AFRM
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of AFRM. Greenline Wealth Management LLC bought a new stake in Affirm in the 4th quarter worth about $26,000. Syntegra Private Wealth Group LLC purchased a new stake in shares of Affirm during the 1st quarter valued at about $28,000. Triumph Capital Management purchased a new stake in shares of Affirm during the 3rd quarter valued at about $31,000. Strive Financial Group LLC purchased a new stake in Affirm in the fourth quarter worth approximately $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in shares of Affirm in the 1st quarter worth $34,000. 69.29% of the stock is owned by institutional investors.
About Affirm
(
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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