Key Points
- Affirm’s chief accounting officer Siphelele Jiyane sold 26,980 shares at an average price of $72.19, totaling nearly $1.95 million and reducing the executive’s holdings by 12.51%. Jiyane also sold 25,000 shares earlier in September.
- Affirm shares opened at $71.58, down 0.7%, with a market capitalization of approximately $24.15 billion. The company recently reported quarterly EPS of $4.62, well above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion.
- Wall Street remains broadly positive: analysts give Affirm a “Moderate Buy” consensus rating, with 24 Buy ratings and 8 Holds and an average price target of $98.78. Institutional investors own approximately 69.29% of the stock.
Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) CAO Siphelele Jiyane sold 26,980 shares of the stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $72.19, for a total value of $1,947,686.20. Following the completion of the transaction, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This represents a 12.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Siphelele Jiyane also recently made the following trade(s):
- On Friday, September 4th, Siphelele Jiyane sold 25,000 shares of Affirm stock. The stock was sold at an average price of $72.41, for a total transaction of $1,810,250.00.
Affirm Stock Down 0.7%
Affirm stock opened at $71.58 on Thursday. The company has a market capitalization of $24.15 billion, a P/E ratio of 12.97, a P/E/G ratio of 2.95 and a beta of 3.61. The firm's fifty day simple moving average is $75.23 and its 200-day simple moving average is $66.54. 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 Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $92.56.
Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. Affirm's quarterly revenue was up 33.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.20 EPS. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.87 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Affirm
Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Research Global Investors lifted its position in shares of Affirm by 0.5% during the 4th quarter. Capital Research Global Investors now owns 23,145,942 shares of the company's stock worth $1,722,797,000 after purchasing an additional 104,239 shares during the last quarter. Capital World Investors increased its position in Affirm by 2.4% in the 4th quarter. Capital World Investors now owns 21,710,914 shares of the company's stock worth $1,615,953,000 after buying an additional 507,224 shares during the period. Geode Capital Management LLC increased its position in Affirm by 6.4% in the 4th quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company's stock worth $408,433,000 after buying an additional 329,312 shares during the period. Norges Bank acquired a new position in shares of Affirm during the fourth quarter worth approximately $281,961,000. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of Affirm by 7.5% during the fourth quarter. Jericho Capital Asset Management L.P. now owns 3,601,248 shares of the company's stock worth $268,041,000 after buying an additional 251,000 shares during the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on AFRM shares. Zacks Research downgraded Affirm from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 25th. Bank of America raised their price objective on Affirm from $93.00 to $104.00 and gave the company a "buy" rating in a research note on Friday, August 28th. Wells Fargo & Company boosted their target price on Affirm from $89.00 to $96.00 and gave the stock an "overweight" rating in a report on Wednesday, July 8th. Oppenheimer upped their target price on Affirm from $100.00 to $104.00 and gave the stock an "outperform" rating in a research report on Friday, August 28th. Finally, Piper Sandler increased their price target on Affirm from $103.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $98.78.
View Our Latest Stock Analysis on Affirm
About Affirm
(
Get Free Report)
Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.
Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.
Further Reading
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