Michael Linford Sells 100,000 Shares of Affirm (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 100,000 shares of Affirm stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $80.04, for a total transaction of $8,004,000.00. Following the sale, the chief operating officer directly owned 117,984 shares in the company, valued at $9,443,439.36. This trade represents a 45.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Affirm Stock Performance

Shares of AFRM stock opened at $83.85 on Thursday. The firm has a market capitalization of $28.08 billion, a price-to-earnings ratio of 76.23, a PEG ratio of 4.63 and a beta of 3.67. The company has a current ratio of 11.32, a quick ratio of 11.32 and a debt-to-equity ratio of 2.39. The business’s 50-day moving average price is $68.92 and its 200-day moving average price is $63.01. Affirm Holdings, Inc. has a 12 month low of $42.10 and a 12 month high of $100.00.

Affirm (NASDAQ:AFRM) last posted its earnings results on Thursday, May 7th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.17 by $0.13. The business had revenue of $943.95 million for the quarter, compared to the consensus estimate of $995.27 million. Affirm had a net margin of 9.63% and a return on equity of 11.17%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.01 EPS. Equities research analysts forecast that Affirm Holdings, Inc. will post 1.24 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Affirm by 2.1% in the 1st quarter. Royal Bank of Canada now owns 193,601 shares of the company’s stock worth $8,748,000 after acquiring an additional 3,892 shares during the last quarter. Empowered Funds LLC increased its holdings in Affirm by 90.7% during the 1st quarter. Empowered Funds LLC now owns 16,852 shares of the company’s stock worth $762,000 after purchasing an additional 8,014 shares in the last quarter. Focus Partners Wealth bought a new stake in Affirm during the 1st quarter worth approximately $243,000. EverSource Wealth Advisors LLC raised its stake in shares of Affirm by 18.5% in the second quarter. EverSource Wealth Advisors LLC now owns 2,738 shares of the company’s stock worth $189,000 after purchasing an additional 427 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of Affirm by 44.8% in the second quarter. First Trust Advisors LP now owns 191,525 shares of the company’s stock worth $13,242,000 after purchasing an additional 59,297 shares during the last quarter. 69.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on AFRM. Oppenheimer reissued an “outperform” rating and issued a $87.00 price target on shares of Affirm in a research note on Friday, May 8th. Royal Bank Of Canada lifted their price objective on shares of Affirm from $77.00 to $80.00 and gave the company a “sector perform” rating in a research note on Friday, May 8th. BTIG Research reiterated a “neutral” rating on shares of Affirm in a research note on Tuesday, May 26th. Citigroup boosted their target price on shares of Affirm from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley set a $79.00 target price on shares of Affirm and gave the stock an “overweight” rating in a research note on Sunday, May 10th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $88.20.

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.