Katherine Adkins Sells 41,664 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) insider Katherine Adkins sold 41,664 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $70.55, for a total value of $2,939,395.20. Following the sale, the insider directly owned 152,439 shares in the company, valued at approximately $10,754,571.45. The trade was a 21.46% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Katherine Adkins also recently made the following trade(s):

• On Thursday, September 3rd, Katherine Adkins sold 41,664 shares of Affirm stock. The stock was sold at an average price of $75.53, for a total transaction of $3,146,881.92.

Affirm Stock Performance

Shares of Affirm stock opened at $72.35 on Friday. The company has a market capitalization of $24.41 billion, a PE ratio of 13.11, a P/E/G ratio of 3.04 and a beta of 3.61. The company has a 50-day simple moving average of $77.19 and a two-hundred day simple moving average of $65.24. Affirm Holdings, Inc. has a one year low of $42.10 and a one year high of $93.20. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share 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 for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.20 EPS. The company’s revenue was up 33.1% compared to the same quarter last year. Research analysts expect that Affirm Holdings, Inc. will post 1.87 EPS for the current fiscal year.

Analyst Ratings Changes

AFRM has been the topic of a number of recent analyst reports. UBS Group upped their price target on Affirm from $82.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Truist Financial raised their price objective on Affirm from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Thursday. Mizuho boosted their target price on Affirm from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, May 14th. Zacks Research lowered Affirm from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 25th. Finally, Oppenheimer raised their price target on Affirm from $100.00 to $104.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Twenty-three investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Affirm presently has an average rating of “Moderate Buy” and a consensus target price of $99.12.

More Affirm News

Here are the key news stories impacting Affirm this week:

• Positive Sentiment: Analyst support remains strong: Mizuho Securities initiated or reiterated a Buy rating for Affirm, while Truist raised its price target from $83 to $85 and maintained a Buy rating. Scotiabank also began coverage with a Sector Outperform recommendation. These actions reinforce the bullish view that Affirm can continue expanding its payments and lending business. Affirm Receives a Buy from Mizuho Securities Scotiabank Initiates Coverage of Affirm
• Positive Sentiment: Demand may be benefiting from consumer pressure: Inflation and elevated gas costs are encouraging consumers to use installment-payment products, potentially supporting transaction volume and revenue growth. Affirm’s disciplined underwriting is viewed as a way to limit rising credit risk. Consumer Pressure Rises, but Demand for Affirm’s Services Also Rises
• Neutral Sentiment: Recent fundamentals provide support: Affirm’s latest quarterly revenue increased 33.1% year over year, and reported EPS substantially exceeded consensus estimates, although revenue was below expectations. Analysts overall maintain a Moderate Buy consensus, with an average price target of $99.12.
• Negative Sentiment: Insider selling is a near-term overhang: COO and director-level insider sales totaling roughly $10 million were reported, including Katherine Adkins’ sale of 41,664 shares. The transactions were conducted under a pre-arranged Rule 10b5-1 plan, which reduces their value as a signal of current management sentiment but may still pressure the stock.

Institutional Investors Weigh In On Affirm

A number of institutional investors and hedge funds have recently modified their holdings of the company. Greenline Wealth Management LLC purchased a new stake in Affirm in the fourth quarter valued at approximately $26,000. Triumph Capital Management purchased a new position in Affirm during the 3rd quarter worth approximately $31,000. Strive Financial Group LLC acquired a new stake in Affirm during the 4th quarter valued at approximately $33,000. Larson Financial Group LLC lifted its stake in Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after acquiring an additional 213 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of Affirm by 63.6% in the 4th quarter. Fifth Third Bancorp now owns 522 shares of the company’s stock valued at $39,000 after acquiring an additional 203 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

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.