Insider Selling: Affirm (NASDAQ:AFRM) Insider Sells $2,939,395.20 in Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) insider Katherine Adkins sold 41,664 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $70.55, for a total transaction of $2,939,395.20. Following the completion of the sale, the insider owned 152,439 shares of the company’s stock, valued at approximately $10,754,571.45. This represents a 21.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $3,146,881.92.

Affirm Trading Up 0.3%

AFRM stock traded up $0.21 during midday trading on Thursday, hitting $74.30. 4,096,093 shares of the company’s stock were exchanged, compared to its average volume of 5,391,625. 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. The company has a market cap of $24.88 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 2.90 and a beta of 3.61. The stock’s fifty day moving average price is $77.38 and its 200-day moving average price is $65.01.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $4.27. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.20 earnings per share. Research analysts predict that Affirm Holdings, Inc. will post 1.85 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Weiss Ratings upgraded shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a report on Friday, August 28th. Morgan Stanley increased their price objective on shares of Affirm from $80.00 to $82.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Compass Point set a $100.00 price objective on shares of Affirm in a report on Friday, July 17th. Wolfe Research reaffirmed an “outperform” rating on shares of Affirm in a research report on Friday, August 28th. Finally, Wells Fargo & Company increased their target price on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Twenty-three research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $99.12.

Hedge Funds Weigh In On Affirm

A number of large investors have recently modified their holdings of the business. Greenline Wealth Management LLC bought a new position in shares of Affirm in the 4th quarter valued at about $26,000. Triumph Capital Management bought a new position in Affirm in the third quarter valued at approximately $31,000. Strive Financial Group LLC acquired a new position in shares of Affirm during the 4th quarter worth approximately $33,000. Larson Financial Group LLC raised its stake in shares of Affirm by 74.5% during the 3rd quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock worth $36,000 after purchasing an additional 213 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in Affirm by 63.6% in the fourth 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. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.