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

Affirm Holdings, Inc. (NASDAQ:AFRM) COO Michael Linford sold 400,000 shares of the stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $68.99, for a total transaction of $27,596,000.00. Following the sale, the chief operating officer now directly owns 85,420 shares of the company’s stock, valued at $5,893,125.80. The trade was a 82.40 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Affirm Price Performance

AFRM opened at $70.70 on Friday. The company’s 50-day simple moving average is $54.98 and its two-hundred day simple moving average is $40.66. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock has a market capitalization of $22.20 billion, a P/E ratio of -49.79 and a beta of 3.66. Affirm Holdings, Inc. has a 52-week low of $22.25 and a 52-week high of $72.82.

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

Institutional Trading of Affirm

A number of hedge funds have recently bought and sold shares of the company. Spyglass Capital Management LLC grew its stake in shares of Affirm by 9.3% during the 3rd quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock valued at $95,849,000 after purchasing an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Affirm by 44.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,203,210 shares of the company’s stock worth $89,935,000 after buying an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Affirm during the second quarter valued at approximately $45,219,000. Bank of New York Mellon Corp increased its holdings in Affirm by 25.6% during the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock valued at $26,190,000 after buying an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new position in Affirm in the third quarter worth approximately $30,808,000. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on AFRM shares. The Goldman Sachs Group increased their target price on shares of Affirm from $57.00 to $78.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Bank of America upped their target price on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Wells Fargo & Company raised their target price on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Finally, Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $22.00 to $37.00 in a report on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $55.33.

About Affirm

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.