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

Affirm Holdings, Inc. (NASDAQ:AFRM) was the target of some unusual options trading on Monday. Traders bought 76,153 call options on the stock. This is an increase of 48% compared to the average daily volume of 51,567 call options.

Affirm Trading Up 7.5 %

Shares of NASDAQ:AFRM traded up $2.21 during trading on Monday, reaching $31.75. 5,588,735 shares of the company traded hands, compared to its average volume of 8,437,224. The firm has a market capitalization of $9.81 billion, a price-to-earnings ratio of -14.11 and a beta of 3.45. Affirm has a 52-week low of $13.67 and a 52-week high of $52.48. The business’s fifty day moving average is $31.00 and its 200-day moving average is $35.72. The company has a current ratio of 12.94, a quick ratio of 12.94 and a debt-to-equity ratio of 2.43.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.43) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.27. The company had revenue of $576.00 million for the quarter, compared to the consensus estimate of $549.99 million. Affirm had a negative net margin of 32.17% and a negative return on equity of 22.06%. The firm’s revenue for the quarter was up 51.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.69) earnings per share. As a group, analysts forecast that Affirm will post -1.98 EPS for the current year.

Insider Buying and Selling at Affirm

In related news, Director Keith Rabois sold 9,276 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $29.89, for a total value of $277,259.64. Following the completion of the transaction, the director now owns 73,623 shares of the company’s stock, valued at approximately $2,200,591.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 13.05% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Affirm

Hedge funds have recently modified their holdings of the business. Creative Financial Designs Inc. ADV increased its holdings in shares of Affirm by 82.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 665 shares of the company’s stock valued at $33,000 after purchasing an additional 300 shares during the last quarter. Global Wealth Strategies & Associates increased its position in Affirm by 94.0% during the first quarter. Global Wealth Strategies & Associates now owns 970 shares of the company’s stock worth $36,000 after buying an additional 470 shares during the period. Planned Solutions Inc. acquired a new stake in shares of Affirm in the 4th quarter valued at approximately $25,000. Raleigh Capital Management Inc. acquired a new stake in shares of Affirm during the 4th quarter valued at approximately $33,000. Finally, Myecfo LLC raised its position in shares of Affirm by 6.1% during the 2nd quarter. Myecfo LLC now owns 11,671 shares of the company’s stock worth $353,000 after purchasing an additional 676 shares during the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on AFRM shares. Barclays cut their target price on shares of Affirm from $50.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, April 16th. BTIG Research started coverage on Affirm in a research report on Friday, June 7th. They issued a “neutral” rating for the company. BMO Capital Markets reduced their price target on Affirm from $48.00 to $46.00 and set a “market perform” rating for the company in a report on Friday, May 10th. Mizuho reissued a “buy” rating and issued a $65.00 price target on shares of Affirm in a research report on Thursday, June 20th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Affirm in a report on Thursday, May 9th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $32.66.

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.