Affirm (NASDAQ:AFRM) CEO Max Levchin Sells 666,666 Shares of Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) CEO Max Levchin sold 666,666 shares of the stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $80.62, for a total transaction of $53,746,612.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Affirm Stock Up 0.9%

Shares of AFRM stock traded up $0.70 during trading hours on Wednesday, reaching $83.05. 3,704,244 shares of the company’s stock were exchanged, compared to its average volume of 4,768,138. The company has a market cap of $27.41 billion, a price-to-earnings ratio of 123.96, a P/E/G ratio of 3.67 and a beta of 3.57. The company has a current ratio of 12.80, a quick ratio of 12.80 and a debt-to-equity ratio of 2.40. The stock’s 50 day moving average is $71.62 and its 200-day moving average is $73.86. Affirm Holdings, Inc. has a fifty-two week low of $30.90 and a fifty-two week high of $100.00.

Affirm (NASDAQ:AFRM) last released its earnings results on Thursday, November 6th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.12. The business had revenue of $933.34 million for the quarter, compared to the consensus estimate of $881.83 million. Affirm had a return on equity of 7.75% and a net margin of 6.74%.The business’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.31) earnings per share. Analysts predict that Affirm Holdings, Inc. will post -0.18 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Yousif Capital Management LLC increased its stake in Affirm by 5.1% in the 3rd quarter. Yousif Capital Management LLC now owns 3,243 shares of the company’s stock worth $237,000 after purchasing an additional 158 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Affirm by 13.2% in the third quarter. Farther Finance Advisors LLC now owns 1,471 shares of the company’s stock valued at $108,000 after purchasing an additional 171 shares in the last quarter. Assetmark Inc. lifted its stake in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after buying an additional 178 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Affirm by 4.4% in the third quarter. GAMMA Investing LLC now owns 4,850 shares of the company’s stock valued at $354,000 after buying an additional 206 shares during the period. Finally, Apollon Wealth Management LLC raised its stake in shares of Affirm by 3.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,335 shares of the company’s stock worth $463,000 after purchasing an additional 212 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent analyst reports. Rothschild & Co Redburn raised shares of Affirm from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $74.00 to $101.00 in a report on Monday, October 6th. Wells Fargo & Company initiated coverage on Affirm in a research report on Tuesday, October 21st. They set an “overweight” rating and a $89.00 target price for the company. Bank of America increased their price objective on shares of Affirm from $94.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, November 7th. Truist Financial decreased their price objective on Affirm from $90.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Redburn Partners set a $101.00 price objective on Affirm in a research note on Monday, October 6th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $86.57.

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.