Adkins, Affirm chief legal officer, sells $4.5m in AFRM stock

Affirm Holdings (NASDAQ:AFRM) Chief Legal Officer Katherine Adkins sold 59,267 shares of Class A Common Stock on August 4, and 1,329 shares on August 5, at prices ranging from $75.00 to $75.02, for a total of approximately $4.5 million. The sale comes as Affirm’s stock has shown remarkable strength, gaining over 200% in the past year and maintaining a "GOOD" overall financial health score according to InvestingPro analysis.

According to a Form 4 filing with the Securities and Exchange Commission, the sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on December 6, 2024.

On August 1st, Adkins exercised options to acquire 1,706 shares and on August 4th and 5th, Adkins exercised options to acquire 59,267 and 1,329 shares respectively, at a price of $23.33, for a total value of $1,413,704. Also on August 1st, 773 shares were withheld for a total value of $51,334 to cover tax obligations at a price of $66.41.

Following these transactions, Adkins directly owns 113,400 shares of Affirm Holdings.

In other recent news, Affirm has partnered with New Look Vision Group to offer flexible payment options for Canadian customers at various optical retailers. This collaboration enables shoppers to split their eyewear purchases into biweekly or monthly payments without incurring late or hidden fees. In another development, RBC Capital has raised its price target for Affirm to $75 from $70, maintaining a Sector Perform rating, as the company is projected to achieve GAAP operating profitability by fiscal year 2026. Meanwhile, Needham has maintained its Hold rating on Affirm due to concerns about Walmart (NYSE:WMT) potentially transitioning to Klarna/OnePay, which could impact Affirm’s revenue in fiscal year 2026.

Additionally, Affirm has announced a partnership with Xsolla to provide flexible payment options for gamers in the United States, allowing them to split purchases into interest-free payments. In a separate announcement, Affirm has extended its capital partnership with Moore Specialty Credit Platform through 2027. This extension continues a collaboration that began in 2017, with Moore investing nearly $5 billion in Affirm’s assets over the years. These developments reflect Affirm’s ongoing efforts to expand its payment solutions and strengthen its financial partnerships.

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