a16z Perennial Management L.P. Grows Stock Holdings in Affirm Holdings, Inc. (NASDAQ:AFRM)

a16z Perennial Management L.P. raised its stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM) by 34.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,220 shares of the company’s stock after purchasing an additional 26,700 shares during the period. Affirm accounts for 0.5% of a16z Perennial Management L.P.’s holdings, making the stock its 14th biggest position. a16z Perennial Management L.P.’s holdings in Affirm were worth $4,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS increased its position in Affirm by 0.4% during the first quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company’s stock worth $2,219,000 after purchasing an additional 200 shares during the last quarter. Allworth Financial LP increased its position in shares of Affirm by 63.7% during the first quarter. Allworth Financial LP now owns 563 shares of the company’s stock valued at $27,000 after acquiring an additional 219 shares during the last quarter. Amalgamated Bank increased its position in shares of Affirm by 2.1% during the first quarter. Amalgamated Bank now owns 13,773 shares of the company’s stock valued at $622,000 after acquiring an additional 280 shares during the last quarter. Prestige Wealth Management Group LLC increased its position in shares of Affirm by 78.1% during the fourth quarter. Prestige Wealth Management Group LLC now owns 757 shares of the company’s stock valued at $46,000 after acquiring an additional 332 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Affirm by 1.9% during the first quarter. M&T Bank Corp now owns 21,416 shares of the company’s stock valued at $968,000 after acquiring an additional 389 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Affirm news, Director Keith Rabois sold 16,089 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $51.00, for a total value of $820,539.00. Following the sale, the director directly owned 29,343 shares in the company, valued at approximately $1,496,493. This trade represents a 35.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Katherine Adkins sold 57,102 shares of Affirm stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $70.27, for a total transaction of $4,012,557.54. Following the sale, the insider owned 112,467 shares in the company, valued at approximately $7,903,056.09. This represents a 33.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 96,247 shares of company stock valued at $6,422,823 in the last three months. 11.82% of the stock is owned by corporate insiders.

Affirm Stock Up 0.6%

NASDAQ:AFRM traded up $0.40 during trading hours on Thursday, hitting $66.04. The stock had a trading volume of 864,857 shares, compared to its average volume of 7,308,204. The company has a current ratio of 11.47, a quick ratio of 11.47 and a debt-to-equity ratio of 2.55. Affirm Holdings, Inc. has a 1-year low of $22.25 and a 1-year high of $82.53. The business has a 50 day simple moving average of $60.84 and a two-hundred day simple moving average of $56.69. The company has a market cap of $21.30 billion, a PE ratio of -314.77, a price-to-earnings-growth ratio of 2.47 and a beta of 3.63.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on AFRM. The Goldman Sachs Group lifted their price target on shares of Affirm from $45.00 to $58.00 and gave the company a “buy” rating in a research report on Monday, May 12th. UBS Group lowered their price objective on shares of Affirm from $62.00 to $56.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Truist Financial raised their price objective on shares of Affirm from $58.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, July 17th. Morgan Stanley decreased their price target on shares of Affirm from $65.00 to $60.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Affirm in a research note on Thursday, July 17th. They issued a “buy” rating and a $78.00 price target for the company. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.82.

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.