Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek Sells 100,821 Shares

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 100,821 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $68.11, for a total transaction of $6,866,918.31. Following the sale, the president now owns 159,449 shares of the company’s stock, valued at $10,860,071.39. This represents a 38.74 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Libor Michalek also recently made the following trade(s):

• On Monday, November 25th, Libor Michalek sold 96,332 shares of Affirm stock. The shares were sold at an average price of $70.01, for a total transaction of $6,744,203.32.
• On Wednesday, November 20th, Libor Michalek sold 77,105 shares of Affirm stock. The shares were sold at an average price of $64.08, for a total transaction of $4,940,888.40.
• On Monday, November 18th, Libor Michalek sold 100,000 shares of Affirm stock. The stock was sold at an average price of $62.00, for a total value of $6,200,000.00.

Affirm Stock Performance

Shares of AFRM stock opened at $66.27 on Wednesday. The company has a current ratio of 12.60, a quick ratio of 12.60 and a debt-to-equity ratio of 2.50. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $70.20. The company has a market cap of $20.81 billion, a price-to-earnings ratio of -46.67 and a beta of 3.47. The stock has a 50 day simple moving average of $47.39 and a 200-day simple moving average of $37.01.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.36) by $0.05. The firm had revenue of $698.48 million during the quarter, compared to analysts’ expectations 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 business posted ($0.57) earnings per share. On average, equities analysts forecast that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Wall Street Analysts Forecast Growth

AFRM has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on Affirm from $47.00 to $56.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Susquehanna increased their price objective on Affirm from $52.00 to $57.00 and gave the company a “positive” rating in a report on Friday, November 8th. BTIG Research raised shares of Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, October 8th. Morgan Stanley upgraded shares of Affirm from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $22.00 to $37.00 in a research note on Wednesday, October 9th. Finally, Wedbush upgraded shares of Affirm from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $25.00 to $45.00 in a research note on Monday, October 14th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $51.13.

Institutional Trading of Affirm

Several hedge funds and other institutional investors have recently made changes to their positions in AFRM. Tidal Investments LLC increased its holdings in Affirm by 208.6% in the third quarter. Tidal Investments LLC now owns 21,775 shares of the company’s stock valued at $889,000 after buying an additional 14,720 shares in the last quarter. Arete Wealth Advisors LLC acquired a new stake in shares of Affirm in the 3rd quarter worth approximately $244,000. Y Intercept Hong Kong Ltd purchased a new position in Affirm in the 3rd quarter valued at approximately $1,618,000. Main Management ETF Advisors LLC acquired a new position in Affirm during the third quarter worth $2,629,000. Finally, XTX Topco Ltd boosted its position in Affirm by 25.5% during the third quarter. XTX Topco Ltd now owns 54,032 shares of the company’s stock worth $2,206,000 after purchasing an additional 10,970 shares in the last quarter. Institutional investors and hedge funds own 69.29% of the company’s stock.

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.