Affirm Holdings, Inc. (NASDAQ:AFRM) President Sells $6,200,000.00 in Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00. Following the completion of the sale, the president now owns 159,449 shares of the company’s stock, valued at approximately $9,885,838. The trade was a 38.54 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Affirm Trading Down 1.2 %

AFRM traded down $0.77 during mid-day trading on Wednesday, hitting $63.19. 7,703,718 shares of the stock were exchanged, compared to its average volume of 9,083,412. The company has a market cap of $19.85 billion, a PE ratio of -45.04 and a beta of 3.47. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-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. The firm’s fifty day moving average is $45.50 and its two-hundred day moving average is $36.11.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.36) by $0.05. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. During the same period in the previous year, the business earned ($0.57) earnings per share. Equities analysts forecast that Affirm Holdings, Inc. will post -0.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in Affirm by 6.8% during the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after acquiring an additional 1,316,901 shares during the last quarter. Capital World Investors boosted its holdings in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after purchasing an additional 77,050 shares during the last quarter. Spyglass Capital Management LLC grew its position in shares of Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock valued at $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Finally, Dragoneer Investment Group LLC purchased a new position in Affirm during the second quarter worth about $45,219,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on AFRM. Wells Fargo & Company increased their target price on shares of Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $22.00 to $37.00 in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Affirm from $47.00 to $56.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. Finally, BTIG Research raised Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, October 8th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Affirm presently has an average rating of “Hold” and a consensus price target of $46.85.

About Affirm

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.