Stock Traders Buy High Volume of Call Options on Affirm (NASDAQ:AFRM)

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of some unusual options trading activity on Friday. Investors bought 90,416 call options on the company. This is an increase of 19% compared to the typical daily volume of 76,123 call options.

Insider Activity

In other Affirm news, Director Christa S. Quarles sold 14,400 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $40.02, for a total value of $576,288.00. Following the transaction, the director now directly owns 141,903 shares of the company’s stock, valued at approximately $5,678,958.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Katherine Adkins sold 82,316 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $45.00, for a total transaction of $3,704,220.00. Following the completion of the sale, the insider now directly owns 91,499 shares of the company’s stock, valued at $4,117,455. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christa S. Quarles sold 14,400 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $40.02, for a total value of $576,288.00. Following the sale, the director now directly owns 141,903 shares of the company’s stock, valued at $5,678,958.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,800 shares of company stock valued at $4,554,288 in the last ninety days. 12.41% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Affirm

A number of large investors have recently made changes to their positions in AFRM. Bank of Montreal Can raised its stake in shares of Affirm by 2,305.3% in the second quarter. Bank of Montreal Can now owns 195,936 shares of the company’s stock valued at $6,466,000 after acquiring an additional 187,790 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Affirm in the third quarter valued at $731,000. Avantax Advisory Services Inc. purchased a new position in Affirm in the first quarter valued at $258,000. Dragoneer Investment Group LLC purchased a new position in Affirm in the second quarter valued at $45,219,000. Finally, Diversify Advisory Services LLC increased its holdings in Affirm by 17.5% in the third quarter. Diversify Advisory Services LLC now owns 107,379 shares of the company’s stock valued at $4,724,000 after buying an additional 15,993 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Affirm Trading Down 4.7 %

Shares of AFRM stock opened at $46.48 on Friday. Affirm has a 1 year low of $21.87 and a 1 year high of $52.48. The company has a debt-to-equity ratio of 2.41, a current ratio of 13.07 and a quick ratio of 13.07. The stock’s 50 day simple moving average is $42.98 and its two-hundred day simple moving average is $34.85. The company has a market cap of $14.46 billion, a PE ratio of -27.67 and a beta of 3.47.

Affirm (NASDAQ:AFRM) last released its quarterly earnings data on Wednesday, August 28th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.31. Affirm had a negative return on equity of 15.55% and a negative net margin of 22.29%. The company had revenue of $659.19 million for the quarter, compared to the consensus estimate of $599.50 million. Research analysts predict that Affirm will post -0.62 earnings per share for the current year.

Wall Street Analyst Weigh In

AFRM has been the subject of several recent research reports. Barclays boosted their price objective on Affirm from $50.00 to $54.00 and gave the company an “overweight” rating in a report on Monday, September 23rd. Wells Fargo & Company upped their price target on Affirm from $52.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday. BTIG Research upgraded Affirm from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, October 8th. Wedbush upgraded Affirm from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $25.00 to $45.00 in a research report on Monday, October 14th. Finally, Needham & Company LLC restated a “hold” rating on shares of Affirm in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Affirm currently has an average rating of “Hold” and a consensus target price of $44.14.

About Affirm

Affirm Holdings, Inc operates a platform for digital and mobile-first commerce in the United States, Canada, and internationally. The company's platform includes point-of-sale payment solution for consumers, merchant commerce solutions, and a consumer-focused app. Its commerce platform, agreements with originating banks, and capital markets partners enables consumers to pay for a purchase over time with terms ranging up to 60 months.