The transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks, helping to avoid concerns about insider trading. Following these transactions, Michalek holds 160,601 shares directly, with additional holdings in a family trust. According to InvestingPro, Affirm shows high price volatility and currently appears overvalued based on its Fair Value analysis. Subscribers can access 11 additional ProTips and comprehensive financial metrics for deeper insights. According to InvestingPro, Affirm shows high price volatility and currently appears overvalued based on its Fair Value analysis. Subscribers can access 11 additional ProTips and comprehensive financial metrics for deeper insights.
In addition to the sales, Michalek acquired shares through stock option exercises on multiple occasions. On November 29, he acquired 2,847 shares at an exercise price of $8.80 per share. Further acquisitions occurred on December 1 and December 2, with 2,336 shares and 6,629 shares, respectively, also stemming from stock options. The total value of these acquisitions was calculated at $83,388. The transactions occurred as Affirm, now valued at $22.29 billion, reported strong revenue growth of 46.55% in the last twelve months.
The transactions were conducted under a Rule 10b5-1 trading plan, which allows insiders to set up a predetermined plan to sell stocks, helping to avoid concerns about insider trading. Following these transactions, Michalek holds 160,601 shares directly, with additional holdings in a family trust.
In other recent news, Affirm Holdings (NASDAQ:AFRM) Inc. reported impressive financial results, including a significant increase in gross merchandise volume and a 46.55% revenue growth. The company's funding capacity has grown by over 50% in the last two years, totaling $16.8 billion as of September 2024. Affirm has also expanded its merchant network by 20%, now partnering with over 320,000 entities globally. Analysts from BofA Securities and Mizuho (NYSE:MFG) Securities have raised their price targets for Affirm, maintaining a Buy and Outperform rating respectively.
Affirm has also completed a significant transaction with PGIM Fixed Income, a part of Prudential Financial (NYSE:PRU). PGIM Fixed Income purchased $500 million in loans from Affirm, strengthening their existing relationship. This move positions Affirm's assets as an attractive investment opportunity, according to Edwin Wilches, Managing Director and Co-Head of Securitized Products at PGIM Fixed Income.
In addition to these developments, Affirm has introduced a new payment feature in the United States in partnership with Visa (NYSE:V), called "Flexible Credential". This allows users to access multiple accounts and funding sources with one card. The company is also preparing for a UK market launch, reflecting Affirm's commitment to meeting the demand for long-term payment products. These are recent developments shaping the financial technology landscape.
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