Michael Linford Sells 79,219 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 79,219 shares of the company’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the completion of the transaction, the chief operating officer directly owned 120,713 shares of the company’s stock, valued at $10,865,377.13. This represents a 39.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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 shares were sold at an average price of $80.04, for a total value of $8,004,000.00.

Affirm Stock Performance

NASDAQ:AFRM opened at $74.09 on Thursday. The stock has a 50-day moving average price of $77.38 and a 200 day moving average price of $65.01. 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 12-month low of $42.10 and a 12-month high of $93.20. The stock has a market capitalization of $24.81 billion, a P/E ratio of 13.42, a P/E/G ratio of 2.90 and a beta of 3.61.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $4.27. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.20 EPS. The company’s revenue was up 33.1% on a year-over-year basis. Equities research analysts forecast that Affirm Holdings, Inc. will post 1.85 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on AFRM shares. Wolfe Research reiterated an “outperform” rating on shares of Affirm in a research note on Friday, August 28th. Stephens raised their price objective on Affirm from $55.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Scotiabank assumed coverage on Affirm in a report on Wednesday. They issued a “sector outperform” rating and a $95.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Affirm from $90.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Finally, Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 25th. Twenty-three equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $99.04.

Institutional Trading of Affirm

Several hedge funds have recently made changes to their positions in AFRM. Greenline Wealth Management LLC purchased a new position in Affirm in the fourth quarter worth about $26,000. Syntegra Private Wealth Group LLC bought a new stake in shares of Affirm in the 1st quarter valued at approximately $28,000. Triumph Capital Management bought a new position in shares of Affirm during the 3rd quarter valued at approximately $31,000. Strive Financial Group LLC purchased a new stake in Affirm during the 4th quarter valued at $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in shares of Affirm in the 1st quarter worth about $34,000. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.