Insider Selling: Affirm (NASDAQ:AFRM) CAO Sells 26,980 Shares of Stock

Key Points

• Affirm CAO Siphelele Jiyane sold 26,980 shares at an average price of $72.19, generating approximately $1.95 million. The sale reduced Jiyane’s ownership by 12.51% to 188,711 shares.
• Affirm recently reported $4.62 in quarterly EPS, far exceeding the $0.35 consensus estimate, while revenue rose 33.1% year over year to $1.07 billion, slightly below expectations.
• Wall Street maintains a generally positive view, with the stock carrying a “Moderate Buy” consensus rating and an average price target of $98.78 versus its recent price of $71.58.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) CAO Siphelele Jiyane sold 26,980 shares of the business's stock in a transaction dated Monday, September 14th. The stock was sold at an average price of $72.19, for a total transaction of $1,947,686.20. Following the completion of the sale, the chief accounting officer owned 188,711 shares in the company, valued at $13,623,047.09. This represents a 12.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Siphelele Jiyane also recently made the following trade(s):

• On Friday, September 4th, Siphelele Jiyane sold 25,000 shares of Affirm stock. The shares were sold at an average price of $72.41, for a total transaction of $1,810,250.00.

Affirm Price Performance

NASDAQ:AFRM traded down $0.51 during mid-day trading on Wednesday, hitting $71.58. 3,986,196 shares of the company's stock traded hands, compared to its average volume of 5,332,116. The company has a debt-to-equity ratio of 1.82, a quick ratio of 11.80 and a current ratio of 11.80. The company has a market cap of $24.15 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 3.00 and a beta of 3.61. The firm's 50 day simple moving average is $75.43 and its 200 day simple moving average is $66.39. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $92.56.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $4.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $4.27. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.11 billion. Affirm had a net margin of 45.29% and a return on equity of 47.91%. The company's revenue for the quarter was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.20 earnings per share. Sell-side analysts expect that Affirm Holdings, Inc. will post 1.87 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Osbon Capital Management LLC purchased a new stake in Affirm during the fourth quarter valued at about $49,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new position in Affirm in the first quarter valued at approximately $34,000. Ascentis Independent Advisors purchased a new position in Affirm in the first quarter valued at approximately $41,000. CX Institutional increased its position in shares of Affirm by 2,724.3% in the second quarter. CX Institutional now owns 1,045 shares of the company's stock worth $85,000 after acquiring an additional 1,008 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Affirm in the 2nd quarter valued at $91,000. Hedge funds and other institutional investors own 69.29% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wolfe Research reissued an "outperform" rating on shares of Affirm in a research report on Friday, August 28th. Citigroup restated a "market outperform" rating on shares of Affirm in a research report on Friday, August 28th. Piper Sandler increased their price objective on Affirm from $103.00 to $115.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Robert W. Baird lifted their price objective on Affirm from $70.00 to $82.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 14th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Affirm in a research note on Wednesday, September 9th. Twenty-four equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $98.78.

About Affirm

Affirm Holdings, Inc is a financial technology company that provides flexible payment options for consumers and commerce-enabling tools for merchants. Its core business is buy now, pay later financing, allowing eligible shoppers to pay for purchases over time through fixed installment plans, with terms and pricing that vary by transaction and consumer qualification.

Affirm's products include point-of-sale financing integrated into merchant checkout experiences, the Affirm app and marketplace, and the Affirm Card, which is designed to let users convert eligible purchases into installment plans.

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