SAN FRANCISCO—Libor Michalek, the President and a director of Affirm Holdings , Inc. (NASDAQ:AFRM), executed a significant stock transaction recently, according to a filing with the Securities and Exchange Commission. The transaction comes as Affirm's stock has shown remarkable strength, surging over 130% in the past six months and currently trading near its 52-week high of $72.82, according to InvestingPro data. On December 4, Michalek sold 93,371 shares of Class A Common Stock at prices ranging from $72.00 to $72.04 per share, generating a total of approximately $6.72 million.
The transaction was conducted under a Rule 10b5-1 trading plan, which was adopted by Michalek on December 13, 2023. Following the sale, Michalek retains direct ownership of 160,601 shares of Affirm Holdings. The company, now valued at $22.6 billion, has demonstrated strong momentum despite not being profitable over the last twelve months. InvestingPro analysis suggests the stock is currently trading above its Fair Value, with 11 additional exclusive insights available to subscribers.
Additionally, Michalek exercised stock options to acquire 93,371 shares at a price of $8.80 per share, resulting in a transaction valued at approximately $821,664. These shares were acquired through a stock option plan that vests monthly, contingent upon continued service with the company.
Michalek also holds 868,114 shares indirectly through the Michalek 2007 Family Trust, where he and his spouse serve as trustees. For comprehensive analysis of Affirm's insider trading patterns and detailed financial metrics, investors can access the full Pro Research Report available on InvestingPro.
In other recent news, Affirm Holdings Inc. has been making significant strides in the financial sector. The company recently reported strong first-quarter results, with a revenue growth of 46.55%. Analysts at BTIG, BofA Securities, and Mizuho (NYSE:MFG) Securities have all raised their price targets for Affirm, following the company's impressive gross merchandise value growth and strong Residual Loan to Cost performance.
Affirm's strategic moves include a partnership with Visa (NYSE:V) to introduce the "Flexible Credential" payment feature in the United States, allowing users to access multiple accounts and funding sources with one card. The company is also preparing for a UK market launch, aiming to meet the demand for long-term payment products.
In addition to these developments, Affirm Holdings Inc. has reported a significant transaction with PGIM Fixed Income, involving a $500 million private purchase of loans. This move bolsters the existing relationship between the two firms and leverages Affirm's rapid growth.
Lastly, Affirm has announced partnerships with several new merchants, expanding the options for consumers to use pay-over-time services for a variety of products and services. This move comes as the company seeks to capitalize on the increased demand for transparent financing options during the holiday shopping season.
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