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 on Friday. Investors acquired 93,927 call options on the company. This is an increase of 36% compared to the average volume of 69,308 call options.

Insider Activity

In other news, Director Keith Rabois sold 9,275 shares of the stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the transaction, the director now directly owns 64,348 shares of the company’s stock, valued at $1,730,961.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, 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 transaction 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. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Keith Rabois sold 9,275 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $26.90, for a total value of $249,497.50. Following the sale, the director now directly owns 64,348 shares in the company, valued at $1,730,961.20. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,951 shares of company stock valued at $1,103,045. Company insiders own 13.05% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raleigh Capital Management Inc. acquired a new position in shares of Affirm during the 4th quarter worth about $33,000. Ridgewood Investments LLC acquired a new position in shares of Affirm during the 2nd quarter worth about $27,000. Global Wealth Strategies & Associates boosted its position in shares of Affirm by 94.0% during the 1st quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after acquiring an additional 470 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of Affirm during the 4th quarter worth about $49,000. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Affirm by 82.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,195 shares of the company’s stock worth $36,000 after acquiring an additional 540 shares in the last quarter. 69.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AFRM has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on Affirm from $43.00 to $45.00 and gave the company an “overweight” rating in a report on Tuesday, August 20th. Royal Bank of Canada raised their price objective on Affirm from $43.00 to $46.00 and gave the company a “sector perform” rating in a report on Thursday, August 29th. Mizuho restated an “outperform” rating and issued a $65.00 target price on shares of Affirm in a research report on Tuesday, August 27th. BTIG Research started coverage on Affirm in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Bank of America raised their target price on Affirm from $36.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, August 29th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $34.32.

Affirm Trading Up 5.4 %

Shares of NASDAQ AFRM opened at $44.01 on Friday. Affirm has a twelve month low of $15.97 and a twelve month high of $52.48. The company has a current ratio of 13.07, a quick ratio of 13.07 and a debt-to-equity ratio of 2.41. The stock has a fifty day simple moving average of $31.45 and a 200-day simple moving average of $32.52. The stock has a market capitalization of $13.69 billion, a PE ratio of -19.74 and a beta of 3.51.

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.