Katherine Adkins Sells 41,664 Shares of Affirm (NASDAQ:AFRM) Stock

Key Points

• Katherine Adkins sold 41,664 Affirm shares for approximately $3.15 million at an average price of $75.53 under a pre-arranged Rule 10b5-1 plan, reducing her position by 21.46% while retaining 152,439 shares.
• Affirm shares rose 0.3% to $74.30, while the company reported quarterly EPS of $4.62, well above the $0.35 consensus estimate. Revenue increased 33.1% year over year to $1.07 billion, though it fell short of estimates.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and a $99.12 price target; 23 analysts rate the stock Buy and eight rate it Hold.

Affirm Holdings, Inc. (NASDAQ:AFRM - Get Free Report) insider Katherine Adkins sold 41,664 shares of the stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of $75.53, for a total value of $3,146,881.92. Following the completion of the transaction, the insider owned 152,439 shares in the company, valued at approximately $11,513,717.67. The trade was a 21.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, September 1st, Katherine Adkins sold 41,664 shares of Affirm stock. The shares were sold at an average price of $70.55, for a total transaction of $2,939,395.20.

Affirm Stock Up 0.3%

Shares of Affirm stock traded up $0.21 on Thursday, hitting $74.30. The company 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 stock has a market capitalization of $24.88 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 2.90 and a beta of 3.61. The stock has a 50 day moving average of $77.38 and a 200-day moving average of $65.01. Affirm Holdings, Inc. has a 1 year low of $42.10 and a 1 year high of $93.20.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $4.62 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm's revenue for the quarter was up 33.1% on a year-over-year basis. As a group, sell-side analysts forecast that Affirm Holdings, Inc. will post 1.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AFRM. Corient Private Wealth LP increased its holdings in Affirm by 101.4% in the 2nd quarter. Corient Private Wealth LP now owns 31,063 shares of the company's stock worth $2,533,000 after acquiring an additional 15,642 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Affirm during the second quarter valued at about $6,158,000. California State Teachers Retirement System boosted its position in Affirm by 7,715.3% during the second quarter. California State Teachers Retirement System now owns 29,932,275 shares of the company's stock worth $2,440,977,000 after purchasing an additional 29,549,277 shares during the period. Readystate Asset Management LP boosted its position in Affirm by 4.6% during the second quarter. Readystate Asset Management LP now owns 67,315 shares of the company's stock worth $5,490,000 after purchasing an additional 2,970 shares during the period. Finally, Aspire Capital Advisors LLC increased its stake in shares of Affirm by 8.2% in the second quarter. Aspire Capital Advisors LLC now owns 8,507 shares of the company's stock worth $694,000 after purchasing an additional 647 shares in the last quarter. Institutional investors own 69.29% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Bank of America boosted their price objective on Affirm from $93.00 to $104.00 and gave the stock a "buy" rating in a research report on Friday, August 28th. Barclays lifted their target price on Affirm from $97.00 to $105.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Robert W. Baird increased their price target on shares of Affirm from $70.00 to $82.00 and gave the company a "neutral" rating in a research report on Tuesday, July 14th. Wolfe Research restated an "outperform" rating on shares of Affirm in a report on Friday, August 28th. Finally, Weiss Ratings raised shares of Affirm from a "hold (c-)" rating to a "hold (c+)" rating in a research report on Friday, August 28th. Twenty-three investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $99.12.

About Affirm

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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