Watson Noel Bertram, a director at Affirm Holdings , Inc. (NASDAQ:AFRM), has sold a portion of his holdings in the company. According to a recent SEC filing, Bertram sold a total of 2,500 shares of Class A Common Stock on December 16, 2024. The sales were executed at prices ranging from $70.27 to $73.11 per share, amounting to a total value of approximately $180,135. The transaction comes as Affirm's stock has shown remarkable strength, posting a 132% gain over the past six months and maintaining strong momentum with a market capitalization of nearly $20 billion.
Following these transactions, Bertram's direct ownership in Affirm stands at 41,497 shares. The sales were conducted under a Rule 10b5-1 trading plan, which was adopted on June 14, 2024. According to InvestingPro analysis, Affirm's stock currently appears overvalued, with high price volatility being a key characteristic. InvestingPro subscribers have access to 10 additional ProTips and a comprehensive Pro Research Report that provides deeper insights into Affirm's valuation and growth prospects.
In other recent news, Affirm Holdings has expanded its partnership with Adyen (AS:ADYEN), making it the first Buy Now, Pay Later provider to support Adyen's platform in Canada. This move follows substantial growth in the Affirm-Adyen collaboration, with an average annual volume increase by more than sevenfold from 2021 to 2023. Affirm's revenue growth is noteworthy, with a 46.5% year-over-year increase.
Affirm has also engaged in significant financial partnerships. Deutsche Bank (ETR:DBKGn) has increased its price target for Affirm, while maintaining a Hold rating. This adjustment is based on Affirm's improving fundamentals and growth prospects. In addition, Affirm has secured a capital partnership with investment firm Sixth Street, providing the company with up to $4 billion for its loans.
Mizuho (NYSE:MFG) Securities and BTIG have exhibited confidence in Affirm, adjusting their price targets for the company's stock. Mizuho Securities increased its price target to $78.00, based on a comparative analysis with Affirm's competitor, Klarna. BTIG raised its price target to $81, citing Affirm's potential to enhance its profit margin and increase earnings per share.
These recent developments highlight Affirm's strategic moves to expand its services and improve its financial standing.
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