Robert O'Hare, the Chief Financial Officer of Affirm Holdings , Inc. (NASDAQ:AFRM), recently reported a series of transactions involving the company's Class A Common Stock. On December 2, O'Hare sold shares totaling $957,548, with prices ranging from $68.05 to $71.89 per share. These sales were part of a pre-arranged trading plan under Rule 10b5-1. The timing is notable as Affirm's stock has shown remarkable strength, delivering a 137% return over the past six months and currently trading near its 52-week high of $72.10.
In addition to these sales, O'Hare also executed several transactions involving stock option exercises, acquiring shares at prices ranging from $0 to $41.80. The total value of these acquisitions was $172,958. Additionally, shares were withheld to cover tax obligations, amounting to $515,273 at a price of $70.01 per share. According to InvestingPro data, Affirm now commands a market capitalization of $22.3 billion, with analysis suggesting the stock is currently overvalued at these levels.
Following these transactions, O'Hare's direct ownership in Affirm stands at 668 shares.
In other recent news, Affirm Holdings has been making significant strides in the financial sector. BofA Securities and Mizuho (NYSE:MFG) Securities have both raised their price targets for Affirm, maintaining a Buy and Outperform rating respectively. This follows the company's strong first-quarter results, which showed growth in gross merchandise value (GMV) and strong Residual Loan to Cost (RLTC) performance, indicating a path to sustainable profitability.
Furthermore, Affirm has strengthened its relationship with PGIM Fixed Income through a $500 million loan purchase. This move comes as Affirm's funding capacity has grown by over 50% in the last two years, reaching $16.8 billion. The company has also expanded its merchant network by 20% to over 320,000 partners globally, including new partnerships with retailers such as Agape Diamonds and Discount Tires.
In addition, Affirm is preparing for a UK market launch and has partnered with Visa (NYSE:V) to introduce the "Flexible Credential" payment feature in the United States. These are recent developments that underscore the evolving dynamics in the financial services industry, particularly within the fixed income and consumer credit sectors. As always, investors are encouraged to review these developments carefully.
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