Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) President Sells 77,105 Shares of Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 77,105 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $64.08, for a total value of $4,940,888.40. Following the completion of the sale, the president now directly owns 159,449 shares of the company’s stock, valued at approximately $10,217,491.92. This represents a 32.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

Libor Michalek also recently made the following trade(s):

• On Monday, November 18th, Libor Michalek sold 100,000 shares of Affirm stock. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00.

Affirm Price Performance

Shares of Affirm stock opened at $66.55 on Monday. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $70.03. The firm has a fifty day simple moving average of $46.89 and a 200-day simple moving average of $36.76. 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 stock has a market capitalization of $20.90 billion, a price-to-earnings ratio of -46.87 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.36) by $0.05. The company had revenue of $698.48 million during the quarter, compared to analysts’ expectations of $661.39 million. Affirm had a negative net margin of 17.67% and a negative return on equity of 12.57%. During the same period in the prior year, the company earned ($0.57) earnings per share. On average, sell-side analysts expect that Affirm Holdings, Inc. will post -0.53 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on AFRM shares. JPMorgan Chase & Co. boosted their price objective on shares of Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Bank of America boosted their price target on shares of Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a report on Friday. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $25.00 to $45.00 in a report on Monday, October 14th. Needham & Company LLC restated a “hold” rating on shares of Affirm in a research note on Friday, September 6th. Finally, Mizuho upped their target price on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Affirm has an average rating of “Hold” and a consensus target price of $50.44.

Institutional Trading of Affirm

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ridgewood Investments LLC bought a new stake in shares of Affirm in the second quarter valued at approximately $27,000. ORG Wealth Partners LLC acquired a new position in Affirm during the 3rd quarter valued at $29,000. Allspring Global Investments Holdings LLC boosted its holdings in Affirm by 82.4% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock valued at $36,000 after purchasing an additional 540 shares during the period. ORG Partners LLC grew its position in Affirm by 80.0% in the 2nd quarter. ORG Partners LLC now owns 1,240 shares of the company’s stock worth $37,000 after purchasing an additional 551 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its holdings in shares of Affirm by 168.2% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,070 shares of the company’s stock worth $44,000 after purchasing an additional 671 shares during the period. Institutional investors and hedge funds own 69.29% of the company’s stock.

Affirm Company Profile

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.