Insider Selling: Affirm (NASDAQ:AFRM) Insider Sells 41,664 Shares

Key Points

• Affirm insider Katherine Adkins sold 41,664 shares at an average price of $70.55, generating about $2.94 million and reducing her direct holdings by 21.46%. The transaction was conducted under a pre-arranged Rule 10b5-1 plan.
• Affirm reported quarterly earnings of $4.62 per share, far exceeding the $0.35 analyst consensus, while revenue rose 33.1% year over year to $1.07 billion, slightly below expectations.
• Analysts remain broadly positive, with a consensus “Moderate Buy” rating and an average price target of $99.12, compared with shares trading around $74.30.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) insider Katherine Adkins sold 41,664 shares of Affirm stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $70.55, for a total value of $2,939,395.20. Following the sale, the insider directly owned 152,439 shares in the company, valued at $10,754,571.45. The trade was a 21.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, September 3rd, Katherine Adkins sold 41,664 shares of Affirm stock. The shares were sold at an average price of $75.53, for a total value of $3,146,881.92.

Affirm Price Performance

Shares of AFRM stock traded up $0.21 during mid-day trading on Thursday, reaching $74.30. The company's stock had a trading volume of 4,096,093 shares, compared to its average volume of 5,391,625. 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 firm's 50-day moving average is $77.38 and its two-hundred day moving average is $65.01. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $93.20. The company has a market cap of $24.88 billion, a P/E ratio of 13.46, a PEG ratio of 2.90 and a beta of 3.61.

Affirm (NASDAQ:AFRM - Get Free Report) last posted its earnings results on Thursday, August 27th. The company reported $4.62 earnings per share for the quarter, beating 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 business had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.11 billion. During the same quarter in the previous year, the firm posted $0.20 earnings per share. The firm's revenue for the quarter was up 33.1% on a year-over-year basis. On average, research analysts predict that Affirm Holdings, Inc. will post 1.85 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Weiss Ratings raised Affirm from a "hold (c-)" rating to a "hold (c+)" rating in a report on Friday, August 28th. JPMorgan Chase & Co. lifted their price target on shares of Affirm from $90.00 to $105.00 and gave the company an "overweight" rating in a report on Friday, August 28th. Scotiabank began coverage on shares of Affirm in a research report on Wednesday. They issued a "sector outperform" rating and a $95.00 price target on the stock. Bank of America upped their price objective on shares of Affirm from $93.00 to $104.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Affirm from $80.00 to $85.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Twenty-three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $99.12.

Hedge Funds Weigh In On Affirm

Hedge funds have recently added to or reduced their stakes in the stock. Greenline Wealth Management LLC bought a new stake in shares of Affirm in the 4th quarter valued at about $26,000. Syntegra Private Wealth Group LLC bought a new position in Affirm during the 1st quarter worth approximately $28,000. Triumph Capital Management acquired a new position in Affirm during the third quarter valued at approximately $31,000. Strive Financial Group LLC bought a new stake in Affirm in the fourth quarter valued at approximately $33,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Affirm in the first quarter valued at approximately $34,000. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.

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