Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) President Sells 100,000 Shares of Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 100,000 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $62.00, for a total value of $6,200,000.00. Following the transaction, the president now owns 159,449 shares in the company, valued at approximately $9,885,838. This represents a 38.54 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Affirm Stock Performance

Shares of AFRM stock opened at $65.74 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The business has a fifty day moving average of $46.44 and a 200 day moving average of $36.50. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of -46.30 and a beta of 3.47. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $66.61.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. BTIG Research upgraded shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 price target for the company in a report on Tuesday, October 8th. Bank of America upped their target price on Affirm from $36.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, August 29th. Morgan Stanley upgraded Affirm from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Finally, The Goldman Sachs Group lifted their target price on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $46.85.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Affirm by 6.8% in the 1st quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after purchasing an additional 1,316,901 shares in the last quarter. Capital World Investors raised its position in shares of Affirm by 0.4% in the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock worth $710,886,000 after acquiring an additional 77,050 shares during the period. Spyglass Capital Management LLC raised its position in shares of Affirm by 9.3% in the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after acquiring an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Affirm by 44.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after acquiring an additional 672,883 shares in the last quarter. Finally, Dragoneer Investment Group LLC purchased a new position in shares of Affirm in the 2nd quarter valued at about $45,219,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.