Libor Michalek Sells 96,332 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM) Stock

Affirm Holdings, Inc. (NASDAQ:AFRM) President Libor Michalek sold 96,332 shares of Affirm stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $70.01, for a total transaction of $6,744,203.32. Following the completion of the sale, the president now directly owns 159,449 shares of the company’s stock, valued at $11,163,024.49. The trade was a 37.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Friday, November 22nd, Libor Michalek sold 100,821 shares of Affirm stock. The stock was sold at an average price of $68.11, for a total value of $6,866,918.31.
• 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 value 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 Down 4.4 %

AFRM stock traded down $3.08 during midday trading on Tuesday, hitting $66.27. 8,831,123 shares of the company’s stock were exchanged, compared to its average volume of 9,098,162. The firm has a 50 day moving average price of $47.39 and a 200-day moving average price of $37.01. Affirm Holdings, Inc. has a 12-month low of $22.25 and a 12-month high of $70.20. The stock has a market capitalization of $20.81 billion, a price-to-earnings ratio of -46.67 and a beta of 3.47. 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 (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping 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 business had revenue of $698.48 million during the quarter, compared to analyst estimates of $661.39 million. During the same quarter in the previous year, the firm earned ($0.57) earnings per share. On average, analysts anticipate that Affirm Holdings, Inc. will post -0.53 EPS for the current year.

Institutional Investors Weigh In On Affirm

A number of institutional investors have recently modified their holdings of AFRM. Spyglass Capital Management LLC raised its holdings in shares of Affirm by 9.3% during the third quarter. Spyglass Capital Management LLC now owns 2,348,095 shares of the company’s stock worth $95,849,000 after purchasing an additional 200,449 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in 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 acquiring an additional 672,883 shares during the last quarter. Dragoneer Investment Group LLC acquired a new position in Affirm in the second quarter valued at approximately $45,219,000. Bank of New York Mellon Corp grew its holdings in shares of 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 purchasing an additional 176,675 shares during the last quarter. Finally, Artemis Investment Management LLP bought a new stake in shares of Affirm in the 3rd quarter worth approximately $30,808,000. Institutional investors and hedge funds own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AFRM shares. Mizuho boosted their target price on shares of Affirm from $65.00 to $69.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Wells Fargo & Company upped their price objective on Affirm from $52.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $46.00 target price on shares of Affirm in a report on Friday, October 4th. Bank of America raised their price objective on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a report on Friday. Finally, Susquehanna boosted their target price on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Affirm currently has a consensus rating of “Hold” and a consensus target price of $51.13.

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.