Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) President Sells $6,866,918.31 in Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 100,821 shares of the stock in a transaction dated Friday, November 22nd. The stock was sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the transaction, the president now owns 159,449 shares of the company’s stock, valued at approximately $10,860,071.39. This represents a 38.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Monday, November 25th, Libor Michalek sold 96,332 shares of Affirm stock. The stock was sold at an average price of $70.01, for a total value of $6,744,203.32.
• On Wednesday, November 20th, Libor Michalek sold 77,105 shares of Affirm stock. The shares were sold at an average price of $64.08, for a total value of $4,940,888.40.
• 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 Stock Up 3.2 %

NASDAQ AFRM opened at $68.37 on Friday. 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 company has a market cap of $21.47 billion, a price-to-earnings ratio of -48.15 and a beta of 3.47. The company has a 50 day moving average of $48.32 and a 200-day moving average of $37.47. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $70.20.

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

Institutional Investors Weigh In On Affirm

A number of large investors have recently bought and sold shares of the company. Spyglass Capital Management LLC lifted its holdings in shares of Affirm by 9.3% during the 3rd 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. lifted its stake in Affirm by 44.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after purchasing an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC acquired a new stake in shares of Affirm in the 2nd quarter valued at $45,219,000. Bank of New York Mellon Corp increased its stake in shares of Affirm by 25.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after purchasing an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP acquired a new position in shares of Affirm during the 3rd quarter worth $30,808,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on AFRM. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $22.00 to $37.00 in a research note on Wednesday, October 9th. Wells Fargo & Company raised their target price on shares of Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Susquehanna boosted their price target on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Affirm in a research report on Friday, September 6th. Finally, Wedbush raised Affirm from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $25.00 to $45.00 in a report on Monday, October 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $52.53.

About Affirm

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.