Affirm Holdings, Inc. (NASDAQ:AFRM) Insider Sells $4,446,210.34 in Stock

Key Points

• Insider Katherine Adkins sold 59,267 shares of Affirm Holdings, Inc. stock for a total of $4,446,210.34, indicating a 34.32% decrease in her ownership position.
• Affirm reported a 35.9% year-over-year revenue increase with earnings per share (EPS) of $0.01, surpassing analysts' expectations.
• Brokerages have adjusted target prices for Affirm, with JPMorgan reducing their target from $74.00 to $69.00 and maintaining an "overweight" rating.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) insider Katherine Adkins sold 59,267 shares of the company's stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $75.02, for a total value of $4,446,210.34. Following the transaction, the insider directly owned 113,400 shares of the company's stock, valued at $8,507,268. The trade was a 34.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, August 5th, Katherine Adkins sold 1,329 shares of Affirm stock. The stock was sold at an average price of $75.00, for a total value of $99,675.00.
• 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 value of $4,012,557.54.

Affirm Stock Performance

Shares of AFRM stock traded up $0.07 on Tuesday, reaching $74.86. The stock had a trading volume of 6,506,205 shares, compared to its average volume of 7,197,970. The stock has a market cap of $24.15 billion, a P/E ratio of -356.48, a price-to-earnings-growth ratio of 2.46 and a beta of 3.63. Affirm Holdings, Inc. has a 1 year low of $23.89 and a 1 year 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 has a 50 day simple moving average of $63.74 and a 200 day simple moving average of $57.22.

Affirm (NASDAQ:AFRM - Get Free Report) last released its quarterly 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. The firm had revenue of $783.14 million for the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The company's revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the business posted ($0.43) EPS. Equities research analysts expect that Affirm Holdings, Inc. will post -0.18 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on AFRM. JPMorgan Chase & Co. decreased their target price on Affirm from $74.00 to $69.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. TD Cowen began coverage on Affirm in a research report on Tuesday, April 8th. They issued a "buy" rating and a $50.00 target price for the company. JMP Securities decreased their target price on Affirm from $85.00 to $75.00 and set a "market outperform" rating for the company in a research report on Friday, May 9th. Morgan Stanley reduced their price objective on Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered Affirm from a "buy" rating to a "hold" rating in a research report on Friday, June 6th. Eleven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $68.09.

Hedge Funds Weigh In On Affirm

Institutional investors and hedge funds have recently bought and sold shares of the stock. Allworth Financial LP lifted its position in Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $27,000 after purchasing an additional 219 shares in the last quarter. Huntington National Bank lifted its position in Affirm by 634.0% during the second quarter. Huntington National Bank now owns 389 shares of the company's stock valued at $27,000 after purchasing an additional 336 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in Affirm during the fourth quarter valued at $28,000. Blume Capital Management Inc. lifted its position in Affirm by 468.8% during the second quarter. Blume Capital Management Inc. now owns 455 shares of the company's stock valued at $31,000 after purchasing an additional 375 shares in the last quarter. Finally, UMB Bank n.a. increased its stake in Affirm by 86.6% in the 2nd quarter. UMB Bank n.a. now owns 569 shares of the company's stock worth $39,000 after buying an additional 264 shares in the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

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.

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