In a recent transaction on May 1, Keith Rabois, a director at Affirm Holdings , Inc. (NASDAQ:AFRM), sold a total of 9,276 shares of the company's Class A Common Stock, according to a new SEC filing. The sales were executed at prices ranging from $31.811 to $33.478, amounting to over $297,902.
The transactions were carried out under a prearranged 10b5-1 trading plan, which was adopted on December 14, 2023. This allows company insiders to sell their shares at predetermined times to avoid accusations of insider trading.
The first sale involved 6,776 shares at an average price of $31.811, with prices varying from $31.35 to $32.34. Following this sale, Rabois sold another 2,000 shares at an average price of $32.806, with individual sale prices ranging from $32.36 to $33.35. The final sale of the day consisted of 500 shares at an average price of $33.478, with the price per share fluctuating between $33.40 and $33.70.
After these transactions, Keith Rabois's ownership in Affirm Holdings decreased, yet he still holds a significant amount of 60,000 shares. The sales were reported in compliance with federal securities regulations, and further details regarding the exact number of shares sold at each price within the reported ranges are available upon request.
Affirm Holdings, based in San Francisco, California, operates within the personal credit institutions sector and continues to be a notable player in the financial technology industry. The company's stock performance and insider transactions are closely watched by investors seeking insights into the company's health and executive confidence.
InvestingPro Insights
Amidst the news of insider transactions at Affirm Holdings, Inc. (NASDAQ:AFRM), it's worth noting that the company's stock has been characterized by significant price volatility. This is reflected in a one-year price total return of 277.21%, which underscores the stock's substantial appreciation over the past year. Despite this growth, analysts following Affirm have indicated skepticism about the company's profitability in the short term. According to InvestingPro Tips, they do not expect Affirm to be profitable this year.
From a financial standpoint, Affirm's market capitalization stands at $10.72 billion, indicating its substantial size in the financial technology sector. The Price / Book ratio, as of the last twelve months leading up to Q2 2024, is 4.07, which suggests that the stock is trading at a premium relative to the company’s book value. Additionally, the company has shown impressive revenue growth of 29.35% over the last twelve months, a testament to its expanding operations despite the lack of current profitability.
Investors considering Affirm Holdings may find these insights particularly relevant, especially when considering the company's strategic positioning and growth trajectory. For those looking for a more comprehensive analysis, there are additional InvestingPro Tips available, which could further inform investment decisions. To explore these insights, one might visit https://www.investing.com/pro/AFRM and consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.