Affirm Target of Unusually Large Options Trading (NASDAQ:AFRM)

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of unusually large options trading activity on Friday. Stock traders bought 143,163 call options on the company. This is an increase of 119% compared to the typical daily volume of 65,434 call options.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on Affirm from $45.00 to $75.00 and gave the company a “hold” rating in a report on Monday, December 16th. Jefferies Financial Group upgraded shares of Affirm from a “hold” rating to a “buy” rating and increased their price target for the stock from $70.00 to $82.00 in a research report on Thursday, December 19th. Needham & Company LLC reiterated a “hold” rating on shares of Affirm in a research report on Friday. Wells Fargo & Company increased their target price on shares of Affirm from $70.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Bank of America upped their price target on Affirm from $50.00 to $74.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $64.06.

Affirm Trading Up 22.4 %

Affirm stock traded up $13.83 during trading on Friday, reaching $75.58. The company had a trading volume of 18,420,557 shares, compared to its average volume of 5,989,954. Affirm has a 12-month low of $22.25 and a 12-month high of $76.88. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of -53.39 and a beta of 3.66. The company has a debt-to-equity ratio of 2.50, a quick ratio of 12.60 and a current ratio of 12.60. The stock’s 50 day moving average price is $62.98 and its two-hundred day moving average price is $48.86.

Affirm (NASDAQ:AFRM) last announced its earnings results on Thursday, February 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.44. Affirm had a negative return on equity of 12.57% and a negative net margin of 17.67%. As a group, equities analysts expect that Affirm will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 16,086 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $60.12, for a total value of $967,090.32. Following the transaction, the director now directly owns 77,608 shares of the company’s stock, valued at approximately $4,665,792.96. The trade was a 17.17 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Libor Michalek sold 6,629 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $72.08, for a total value of $477,818.32. Following the sale, the president now directly owns 160,601 shares of the company’s stock, valued at $11,576,120.08. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,339,564 shares of company stock valued at $87,252,461. 12.41% of the stock is owned by company insiders.

Institutional Trading of Affirm

Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi raised its stake in shares of Affirm by 107.5% during the fourth quarter. Amundi now owns 603,437 shares of the company’s stock valued at $35,404,000 after purchasing an additional 312,620 shares in the last quarter. West Family Investments Inc. acquired a new position in shares of Affirm during the 4th quarter worth about $296,000. Raymond James Financial Inc. bought a new stake in Affirm in the 4th quarter valued at $14,591,000. Arizona State Retirement System boosted its position in Affirm by 2.1% in the fourth quarter. Arizona State Retirement System now owns 69,827 shares of the company’s stock valued at $4,252,000 after buying an additional 1,453 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in Affirm during the 4th quarter worth $8,831,000. 69.29% of the stock is currently owned by institutional investors and hedge funds.

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.