Michael Linford Sells 79,219 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 79,219 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $90.01, for a total transaction of $7,130,502.19. Following the transaction, the chief operating officer directly owned 120,713 shares in the company, valued at $10,865,377.13. The trade was a 39.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Linford also recently made the following trade(s):

• On Friday, June 26th, Michael Linford sold 100,000 shares of Affirm stock. The stock was sold at an average price of $80.04, for a total transaction of $8,004,000.00.

Affirm Stock Down 6.1%

Shares of NASDAQ:AFRM traded down $4.51 during trading on Tuesday, reaching $69.94. 7,850,928 shares of the company traded hands, compared to its average volume of 5,395,497. The firm has a fifty day simple moving average of $77.49 and a 200 day simple moving average of $64.75. The firm has a market cap of $23.42 billion, a P/E ratio of 12.67, a price-to-earnings-growth ratio of 3.13 and a beta of 3.71. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year 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.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, topping 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 the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.20 earnings per share. Affirm’s revenue for the quarter was up 33.1% compared to the same quarter last year. Analysts anticipate that Affirm Holdings, Inc. will post 1.75 earnings per share for the current fiscal year.

Institutional Trading of Affirm

Several large investors have recently made changes to their positions in AFRM. Greenline Wealth Management LLC bought a new position in shares of Affirm in the 4th quarter valued at approximately $26,000. Syntegra Private Wealth Group LLC bought a new stake in Affirm during the first quarter worth approximately $28,000. Triumph Capital Management bought a new stake in Affirm during the third quarter worth approximately $31,000. Strive Financial Group LLC acquired a new position in Affirm during the fourth quarter valued at approximately $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Affirm during the first quarter valued at approximately $34,000. Institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Stephens raised their price target on Affirm from $55.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Wells Fargo & Company increased their price objective on Affirm from $89.00 to $96.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Oppenheimer raised their price objective on shares of Affirm from $100.00 to $104.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America lifted their target price on shares of Affirm from $93.00 to $104.00 and gave the company a “buy” rating in a research note on Friday. Finally, Barclays boosted their target price on shares of Affirm from $97.00 to $105.00 and gave the stock an “overweight” rating in a research report on Friday. Twenty-two 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, the company has an average rating of “Moderate Buy” and an average target price of $99.20.

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.