Affirm (NASDAQ:AFRM) CFO Robert O'hare Sells 65,591 Shares of Company Stock

Key Points

• Affirm CFO Robert O’Hare sold 65,591 shares at an average price of $80.02, totaling approximately $5.25 million. The Rule 10b5-1 plan transaction reduced his ownership by 96% to 2,734 shares.
• Affirm shares fell $7.38 to $70.51 during mid-day trading, while the stock remains within its $42.10–$90.44 12-month range. Institutional investors own approximately 69.29% of the company.
• Affirm reported quarterly EPS of $4.62, far above the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $97.69.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) CFO Robert O'Hare sold 65,591 shares of the firm's stock in a transaction on Friday, October 9th. The stock was sold at an average price of $80.02, for a total value of $5,248,591.82. Following the transaction, the chief financial officer owned 2,734 shares in the company, valued at $218,774.68. This trade represents a 96.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Affirm Stock Performance

Affirm stock traded down $7.38 during mid-day trading on Wednesday, reaching $70.51. The company's stock had a trading volume of 7,988,683 shares, compared to its average volume of 5,211,499. The company has a current ratio of 11.80, a quick ratio of 11.80 and a debt-to-equity ratio of 1.82. Affirm Holdings, Inc. has a twelve month low of $42.10 and a twelve month high of $90.44. The business has a 50 day moving average price of $73.85 and a 200-day moving average price of $69.90. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 3.16 and a beta of 3.82.

Affirm (NASDAQ:AFRM - Get Free Report) last issued its 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 company had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the company earned $0.20 earnings per share. The firm's revenue was up 33.1% compared to the same quarter last year. Sell-side analysts predict that Affirm Holdings, Inc. will post 1.91 EPS for the current fiscal year.

Hedge Funds Weigh In On Affirm

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Jericho Capital Asset Management L.P. boosted its position in Affirm by 7.5% during the 4th quarter. Jericho Capital Asset Management L.P. now owns 3,601,248 shares of the company's stock worth $268,041,000 after acquiring an additional 251,000 shares during the period. Atreides Management LP lifted its stake in shares of Affirm by 566.1% in the 4th quarter. Atreides Management LP now owns 1,384,941 shares of the company's stock worth $103,081,000 after acquiring an additional 1,177,036 shares during the period. Spyglass Capital Management LLC boosted its stake in Affirm by 15.2% during the 1st quarter. Spyglass Capital Management LLC now owns 1,662,325 shares of the company's stock valued at $76,168,000 after purchasing an additional 218,745 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Affirm during the 2nd quarter valued at $75,121,000. Finally, Dimensional Fund Advisors LP increased its position in shares of Affirm by 11.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,574,660 shares of the company's stock valued at $72,100,000 after purchasing an additional 166,252 shares during the period. 69.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on AFRM shares. Loop Capital started coverage on Affirm in a research report on Wednesday, September 9th. They set a "buy" rating and a $105.00 price objective for the company. Barclays increased their target price on Affirm from $97.00 to $105.00 and gave the stock an "overweight" rating in a research report on Friday, August 28th. JPMorgan Chase & Co. raised their target price on Affirm from $90.00 to $105.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Robert W. Baird boosted their price target on shares of Affirm from $70.00 to $82.00 and gave the company a "neutral" rating in a report on Tuesday, July 14th. Finally, Piper Sandler boosted their price target on shares of Affirm from $103.00 to $115.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Twenty-four investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, Affirm currently has an average rating of "Moderate Buy" and a consensus target price of $97.69.

About Affirm

Affirm Holdings, Inc NASDAQ: AFRM operates a digital commerce and financial services platform that enables consumers to pay for purchases over time. Its point-of-sale financing products allow eligible customers to use installment loans, including both short-term and longer-duration payment options, with terms and costs disclosed before purchase.

Affirm's services are offered through its merchant partners' online and in-store checkout experiences, as well as through the Affirm app and website.

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