Affirm Holdings, Inc. (NASDAQ:AFRM) Stake Boosted by a16z Perennial Management L.P.

a16z Perennial Management L.P. raised its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 34.4% during the 1st quarter, HoldingsChannel reports. The fund owned 104,220 shares of the company’s stock after purchasing an additional 26,700 shares during the period. Affirm accounts for approximately 0.5% of a16z Perennial Management L.P.’s portfolio, making the stock its 14th biggest holding. a16z Perennial Management L.P.’s holdings in Affirm were worth $4,710,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Affirm during the 4th quarter valued at about $28,000. Allworth Financial LP grew its stake in shares of Affirm by 63.7% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after buying an additional 219 shares in the last quarter. Coppell Advisory Solutions LLC bought a new stake in shares of Affirm in the 4th quarter valued at approximately $40,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Affirm in the 4th quarter valued at approximately $43,000. Finally, Prestige Wealth Management Group LLC grew its stake in shares of Affirm by 78.1% in the 4th quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock valued at $46,000 after buying an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 69.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on AFRM. Evercore ISI began coverage on Affirm in a research note on Wednesday, April 9th. They issued an “outperform” rating and a $50.00 price target for the company. UBS Group reduced their target price on Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Wall Street Zen lowered Affirm from a “buy” rating to a “hold” rating in a report on Friday, June 6th. Oppenheimer set a $80.00 price target on Affirm and gave the stock an “outperform” rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Affirm in a report on Thursday, July 17th. They set a “buy” rating and a $78.00 price target for the company. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $67.82.

Affirm Trading Up 0.5%

NASDAQ:AFRM traded up $0.35 during trading hours on Thursday, hitting $65.99. The stock had a trading volume of 864,857 shares, compared to its average volume of 7,308,204. The company has a market cap of $21.29 billion, a price-to-earnings ratio of -314.77, a P/E/G ratio of 2.47 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a quick ratio of 11.47 and a current ratio of 11.47. The business’s 50 day moving average is $60.84 and its 200-day moving average is $56.69. Affirm Holdings, Inc. has a one year low of $22.25 and a one year high of $82.53.

Affirm (NASDAQ:AFRM) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.09) by $0.10. The business had revenue of $783.14 million during the quarter, compared to the consensus estimate of $782.98 million. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. Affirm’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the company earned ($0.43) earnings per share. Sell-side analysts anticipate that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Insiders Place Their Bets

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $60.86, for a total value of $152,150.00. Following the completion of the sale, the director directly owned 36,497 shares of the company’s stock, valued at $2,221,207.42. This trade represents a 6.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Katherine Adkins sold 57,102 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $70.27, for a total value of $4,012,557.54. Following the transaction, the insider owned 112,467 shares of the company’s stock, valued at approximately $7,903,056.09. The trade was a 33.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,247 shares of company stock worth $6,422,823. Company insiders own 11.82% of the company’s stock.

Affirm 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.