Insider Selling: Affirm Holdings, Inc. (NASDAQ:AFRM) Insider Sells 1,329 Shares of Stock

Key Points

• Insider Katherine Adkins sold 1,329 shares of Affirm at an average price of $75.00, reducing her stake to 113,400 shares valued at approximately $8.5 million.
• Affirm reported a 35.9% increase in revenue year-over-year, with quarterly earnings surpassing analysts' expectations, leading to $783.14 million in revenue.
• As of now, Affirm Holdings has an average analyst rating of "Moderate Buy" and a consensus price target of $68.09.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) insider Katherine Adkins sold 1,329 shares of Affirm stock in a transaction that occurred on Tuesday, August 5th. The stock was sold at an average price of $75.00, for a total value of $99,675.00. Following the completion of the transaction, the insider owned 113,400 shares of the company's stock, valued at approximately $8,505,000. The trade was a 1.16% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Katherine Adkins also recently made the following trade(s):

• On Wednesday, August 6th, Katherine Adkins sold 6,489 shares of Affirm stock. The stock was sold at an average price of $75.00, for a total value of $486,675.00.
• On Monday, August 4th, Katherine Adkins sold 59,267 shares of Affirm stock. The stock was sold at an average price of $75.02, for a total transaction of $4,446,210.34.
• On Monday, July 7th, Katherine Adkins sold 57,102 shares of Affirm stock. The stock was sold at an average price of $70.27, for a total transaction of $4,012,557.54.

Affirm Price Performance

Shares of AFRM stock traded down $6.95 during mid-day trading on Friday, hitting $72.01. 6,565,912 shares of the stock traded hands, compared to its average volume of 7,169,811. Affirm Holdings, Inc. has a twelve month low of $24.67 and a twelve month high of $82.53. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The company's 50-day simple moving average is $65.28 and its 200-day simple moving average is $57.63. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of -342.77, a price-to-earnings-growth ratio of 2.86 and a beta of 3.63.

Affirm (NASDAQ:AFRM - Get Free Report) last released its earnings results on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm had revenue of $783.14 million for the quarter, compared to analyst estimates of $782.98 million. During the same period in the previous year, the company earned ($0.43) earnings per share. Affirm's revenue was up 35.9% compared to the same quarter last year. As a group, equities research analysts expect that Affirm Holdings, Inc. will post -0.18 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Bank of America boosted their price objective on shares of Affirm from $76.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, May 9th. BTIG Research downgraded Affirm from a "buy" rating to a "neutral" rating in a research note on Monday, July 14th. Royal Bank Of Canada increased their price target on Affirm from $70.00 to $75.00 and gave the stock a "sector perform" rating in a research report on Tuesday, July 8th. Oppenheimer set a $80.00 price objective on Affirm and gave the company an "outperform" rating in a research report on Monday, July 21st. Finally, The Goldman Sachs Group upped their price objective on Affirm from $45.00 to $58.00 and gave the stock a "buy" rating in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $68.09.

Hedge Funds Weigh In On Affirm

Several large investors have recently made changes to their positions in the business. Allworth Financial LP grew its position in Affirm by 63.7% in the first quarter. Allworth Financial LP now owns 563 shares of the company's stock worth $27,000 after buying an additional 219 shares during the last quarter. Huntington National Bank grew its holdings in shares of Affirm by 634.0% in the 2nd quarter. Huntington National Bank now owns 389 shares of the company's stock worth $27,000 after acquiring an additional 336 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of Affirm during the fourth quarter worth $28,000. SouthState Corp lifted its holdings in shares of Affirm by 190.5% during the second quarter. SouthState Corp now owns 427 shares of the company's stock valued at $30,000 after purchasing an additional 280 shares during the last quarter. Finally, Blume Capital Management Inc. boosted its position in shares of Affirm by 468.8% in the 2nd quarter. Blume Capital Management Inc. now owns 455 shares of the company's stock valued at $31,000 after purchasing an additional 375 shares during the period. Institutional investors own 69.29% of the company's stock.

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.