Investors Buy High Volume of Affirm Call Options (NASDAQ:AFRM)

Affirm Holdings, Inc. (NASDAQ:AFRM) saw unusually large options trading on Friday. Stock investors acquired 90,416 call options on the stock. This is an increase of 19% compared to the typical daily volume of 76,123 call options.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on AFRM shares. Susquehanna lifted their price target on Affirm from $52.00 to $57.00 and gave the stock a “positive” rating in a research report on Friday. Morgan Stanley raised shares of Affirm from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $22.00 to $37.00 in a report on Wednesday, October 9th. Royal Bank of Canada reiterated a “sector perform” rating and set a $46.00 price target on shares of Affirm in a report on Friday, October 4th. Barclays boosted their price objective on shares of Affirm from $50.00 to $54.00 and gave the stock an “overweight” rating in a report on Monday, September 23rd. Finally, The Goldman Sachs Group increased their target price on Affirm from $46.00 to $54.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.36.

Affirm Price Performance

Shares of AFRM stock traded down $4.77 on Friday, reaching $44.02. The company’s stock had a trading volume of 9,878,308 shares, compared to its average volume of 8,763,256. The stock’s fifty day simple moving average is $42.93 and its 200-day simple moving average is $34.75. Affirm has a 1 year low of $21.87 and a 1 year high of $52.48. The company has a market capitalization of $13.70 billion, a price-to-earnings ratio of -27.04 and a beta of 3.47. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41.

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

Insider Buying and Selling

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

Institutional Investors Weigh In On Affirm

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Affirm by 6.8% in the first quarter. Vanguard Group Inc. now owns 20,823,803 shares of the company’s stock worth $775,895,000 after buying an additional 1,316,901 shares during the last quarter. Capital World Investors boosted its position in shares of Affirm by 0.4% during the first quarter. Capital World Investors now owns 19,079,071 shares of the company’s stock valued at $710,886,000 after buying an additional 77,050 shares during the period. Dragoneer Investment Group LLC bought a new position in shares of Affirm during the second quarter valued at approximately $45,219,000. Bank of New York Mellon Corp raised its holdings in shares of Affirm by 25.6% in the second quarter. Bank of New York Mellon Corp now owns 866,946 shares of the company’s stock worth $26,190,000 after buying an additional 176,675 shares during the period. Finally, Artemis Investment Management LLP bought a new stake in shares of Affirm during the 3rd quarter worth approximately $30,808,000. 69.29% of the stock is owned by institutional investors.

Affirm Company Profile

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.