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 that occurred on 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 completion of the transaction, the insider owned 152,439 shares in the company, valued at $10,754,571.45. This represents a 21.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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 Price Performance

AFRM stock opened at $72.35 on Friday. Affirm Holdings, Inc. has a 52-week low of $42.10 and a 52-week high of $93.20. The company has a quick ratio of 11.80, a current ratio of 11.80 and a debt-to-equity ratio of 1.82. The stock has a market cap of $24.41 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 2.96 and a beta of 3.61. The business has a fifty day moving average of $77.19 and a two-hundred day moving average of $65.24.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating the consensus estimate of $0.35 by $4.27. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.11 billion. Affirm had a return on equity of 47.91% and a net margin of 45.29%.The company’s quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.20 EPS. As a group, research analysts anticipate that Affirm Holdings, Inc. will post 1.87 earnings per share for the current year.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently made changes to their positions in the company. SBI Securities Co. Ltd. raised its position in Affirm by 83.4% in the 4th quarter. SBI Securities Co. Ltd. now owns 48,504 shares of the company’s stock valued at $3,610,000 after purchasing an additional 22,054 shares during the last quarter. Geode Capital Management LLC lifted its position in Affirm by 6.4% in the fourth quarter. Geode Capital Management LLC now owns 5,501,387 shares of the company’s stock valued at $408,433,000 after purchasing an additional 329,312 shares during the period. SteelPeak Wealth LLC purchased a new stake in Affirm in the 1st quarter valued at approximately $935,000. Dimensional Fund Advisors LP boosted its holdings in Affirm by 11.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company’s stock valued at $72,100,000 after purchasing an additional 166,252 shares in the last quarter. Finally, Legal & General Group Plc increased its position in Affirm by 25.4% during the 4th quarter. Legal & General Group Plc now owns 605,521 shares of the company’s stock worth $45,069,000 after purchasing an additional 122,584 shares during the period. 69.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on AFRM shares. Citigroup reiterated a “market outperform” rating on shares of Affirm in a research report on Friday, August 28th. Compass Point set a $100.00 target price on shares of Affirm in a research note on Friday, July 17th. Susquehanna lifted their price objective on Affirm from $105.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, August 28th. Weiss Ratings upgraded shares of Affirm from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Friday, August 28th. Finally, Wells Fargo & Company lifted their price target on shares of Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. Twenty-three investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Affirm currently has an average rating of “Moderate Buy” and an average target price of $99.12.

Key Headlines Impacting Affirm

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.

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.