Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford Sells 400,000 Shares

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 400,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the completion of the sale, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at $5,893,125.80. This represents a 82.40 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Affirm Stock Up 2.8 %

Shares of NASDAQ:AFRM opened at $70.70 on Friday. The company has a debt-to-equity ratio of 2.50, a current ratio of 12.60 and a quick ratio of 12.60. The business has a 50 day simple moving average of $54.98 and a two-hundred day simple moving average of $40.66. Affirm Holdings, Inc. has a 1 year low of $22.25 and a 1 year high of $72.82. The firm has a market capitalization of $22.20 billion, a PE ratio of -49.79 and a beta of 3.66.

Affirm (NASDAQ:AFRM) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) EPS for the quarter, beating the consensus estimate of ($0.36) by $0.05. The company had revenue of $698.48 million for the quarter, compared to the consensus estimate of $661.39 million. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. During the same quarter in the prior year, the company posted ($0.57) EPS. On average, equities analysts predict that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Wedbush raised shares of Affirm from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $25.00 to $45.00 in a research note on Monday, October 14th. Mizuho increased their price target on Affirm from $65.00 to $69.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. JPMorgan Chase & Co. boosted their price objective on Affirm from $56.00 to $74.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Wells Fargo & Company upped their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Bank of America lifted their target price on Affirm from $50.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $55.33.

Institutional Investors Weigh In On Affirm

Several large investors have recently added to or reduced their stakes in the stock. Lord Abbett & CO. LLC bought a new stake in shares of Affirm during the third quarter valued at approximately $2,644,000. Tidal Investments LLC raised its position in Affirm by 208.6% during the 3rd quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after purchasing an additional 14,720 shares in the last quarter. Arete Wealth Advisors LLC bought a new stake in Affirm during the 3rd quarter valued at $244,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of Affirm in the 3rd quarter worth $1,618,000. Finally, Main Management ETF Advisors LLC bought a new position in shares of Affirm during the 3rd quarter worth $2,629,000. 69.29% of the stock is owned by hedge funds and other institutional investors.

Affirm Company Profile

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.