Key Points
- Affirm CFO Robert O’Hare sold 65,591 shares at an average price of $80.02, generating approximately $5.25 million. The transaction was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct holdings by 96% to 2,734 shares.
- Affirm shares were trading down 9.5% at $70.51, while the company’s latest quarterly results showed adjusted earnings of $4.62 per share and revenue growth of 33.1% year over year.
- Analyst sentiment remains positive: 24 analysts rate the stock a Buy and eight rate it Hold, producing a consensus “Moderate Buy” rating and an average price target of $97.69.
Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) CFO Robert O'Hare sold 65,591 shares of the firm's stock in a transaction that occurred on Friday, October 9th. The shares were sold at an average price of $80.02, for a total value of $5,248,591.82. Following the completion of the sale, the chief financial officer directly owned 2,734 shares of the company's stock, valued at $218,774.68. This trade represents a 96.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Affirm Trading Down 9.5%
NASDAQ AFRM opened at $70.51 on Thursday. The company has a market cap of $23.79 billion, a price-to-earnings ratio of 12.77, a P/E/G ratio of 3.13 and a beta of 3.82. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $90.44. The business has a 50 day moving average price of $73.69 and a 200-day moving average price of $70.08. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82.
Affirm (NASDAQ:AFRM - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $4.27. Affirm had a return on equity of 47.91% and a net margin of 45.29%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm earned $0.20 earnings per share. Affirm's revenue for the quarter was up 33.1% on a year-over-year basis. As a group, equities analysts expect that Affirm Holdings, Inc. will post 1.91 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Affirm
Several institutional investors have recently bought and sold shares of the stock. Syntegra Private Wealth Group LLC purchased a new stake in Affirm in the 1st quarter valued at $28,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in Affirm during the 1st quarter valued at $34,000. Ascentis Independent Advisors purchased a new position in Affirm during the 1st quarter worth $41,000. Mather Group LLC. boosted its holdings in Affirm by 52.9% during the 3rd quarter. Mather Group LLC. now owns 613 shares of the company's stock worth $42,000 after acquiring an additional 212 shares during the last quarter. Finally, Osbon Capital Management LLC purchased a new position in Affirm during the 4th quarter worth $49,000. Institutional investors own 69.29% of the company's stock.
Analyst Ratings Changes
A number of research firms have weighed in on AFRM. Dbs Bank raised shares of Affirm to a "moderate buy" rating in a research note on Wednesday, September 30th. Scotiabank began coverage on shares of Affirm in a research report on Wednesday, September 2nd. They set a "sector outperform" rating and a $95.00 target price for the company. Needham & Company LLC set a $85.00 target price on shares of Affirm in a report on Wednesday, September 16th. Barclays upped their target price on shares of Affirm from $97.00 to $105.00 and gave the stock an "overweight" rating in a report on Friday, August 28th. Finally, Citigroup reaffirmed a "market outperform" rating on shares of Affirm in a research 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 stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $97.69.
Get Our Latest Stock Analysis on AFRM
Affirm Company Profile
(
Get Free Report)
Affirm Holdings, Inc (NASDAQ: AFRM) operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.
Affirm's services are offered through its merchant partners' online and in-store checkout experiences, as well as through the Affirm app and website.
Further Reading
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