Michael Linford Sells 100,000 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 100,000 shares of the business’s stock in a transaction dated Friday, June 26th. The shares were sold at an average price of $80.04, for a total value of $8,004,000.00. Following the completion of the sale, the chief operating officer directly owned 117,984 shares of the company’s stock, valued at $9,443,439.36. The trade was a 45.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Affirm Stock Down 0.3%

NASDAQ:AFRM traded down $0.24 on Tuesday, hitting $81.55. The stock had a trading volume of 3,175,858 shares, compared to its average volume of 5,799,354. The business’s fifty day moving average is $68.25 and its 200 day moving average is $62.83. The company has a market cap of $27.31 billion, a PE ratio of 74.14, a P/E/G ratio of 4.58 and a beta of 3.70. The company has a quick ratio of 11.32, a current ratio of 11.32 and a debt-to-equity ratio of 2.39. Affirm Holdings, Inc. has a 52 week low of $42.10 and a 52 week high of $100.00.

Affirm (NASDAQ:AFRM) 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. On average, equities research analysts expect that Affirm Holdings, Inc. will post 1.25 EPS for the current fiscal year.

Institutional Trading of Affirm

Several institutional investors have recently made changes to their positions in AFRM. Norges Bank bought a new position in shares of Affirm during the fourth quarter valued at about $281,961,000. Invesco Ltd. boosted its holdings in Affirm by 294.2% during the third quarter. Invesco Ltd. now owns 4,333,691 shares of the company’s stock worth $316,706,000 after purchasing an additional 3,234,260 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in Affirm by 11,042.3% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,161,278 shares of the company’s stock worth $157,004,000 after purchasing an additional 2,141,881 shares in the last quarter. Atreides Management LP increased its stake in Affirm by 543.3% in the 2nd quarter. Atreides Management LP now owns 1,977,882 shares of the company’s stock valued at $136,751,000 after buying an additional 1,670,429 shares during the last quarter. Finally, State Street Corp lifted its position in shares of Affirm by 26.7% during the 3rd quarter. State Street Corp now owns 5,641,965 shares of the company’s stock worth $412,315,000 after buying an additional 1,187,665 shares in the last quarter. Institutional investors own 69.29% of the company’s stock.

Analyst Ratings Changes

AFRM has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Affirm from $79.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. UBS Group boosted their target price on shares of Affirm from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. BTIG Research restated a “neutral” rating on shares of Affirm in a report on Tuesday, May 26th. Oppenheimer reaffirmed an “outperform” rating and issued a $87.00 price target on shares of Affirm in a research report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price target on Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Affirm currently has a consensus rating of “Moderate Buy” and an average price target of $87.60.

About Affirm

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.