a16z Perennial Management L.P. Acquires 26,700 Shares of Affirm Holdings, Inc. (NASDAQ:AFRM)

a16z Perennial Management L.P. boosted its position in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 34.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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 position. a16z Perennial Management L.P.'s holdings in Affirm were worth $4,710,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS lifted its holdings in shares of Affirm by 0.4% during the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock valued at $2,219,000 after buying an additional 200 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Affirm by 63.7% during 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 during the last quarter. Amalgamated Bank lifted its holdings in shares of Affirm by 2.1% during the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock valued at $622,000 after buying an additional 280 shares during the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of Affirm by 78.1% during 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 during the last quarter. Finally, M&T Bank Corp lifted its holdings in shares of Affirm by 1.9% during the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company's stock valued at $968,000 after buying an additional 389 shares during the last quarter. Institutional investors and hedge funds own 69.29% of the company's stock.

Affirm Stock Performance

Shares of AFRM traded up $1.27 on Friday, reaching $67.09. 3,054,278 shares of the stock traded hands, compared to its average volume of 5,225,702. The stock's 50-day moving average price is $61.41 and its 200-day moving average price is $56.74. Affirm Holdings, Inc. has a 12 month low of $22.25 and a 12 month high of $82.53. The firm has a market cap of $21.64 billion, a price-to-earnings ratio of -319.48, a P/E/G ratio of 2.43 and a beta of 3.63. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47.

Affirm (NASDAQ:AFRM - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.09) by $0.10. Affirm had a negative return on equity of 2.22% and a negative net margin of 2.07%. The firm had revenue of $783.14 million for the quarter, compared to analysts' expectations of $782.98 million. During the same period in the prior year, the business posted ($0.43) earnings per share. The business's revenue was up 35.9% compared to the same quarter last year. Equities analysts forecast that Affirm Holdings, Inc. will post -0.18 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on 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. Barclays boosted their target price on Affirm from $67.00 to $80.00 and gave the stock an "overweight" rating in a report on Monday, June 30th. Morgan Stanley decreased their price objective on shares of Affirm from $65.00 to $60.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company lowered their target price on shares of Affirm from $85.00 to $67.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Susquehanna raised their target price on shares of Affirm from $65.00 to $76.00 and gave the company a "positive" rating in a research note on Wednesday. Nine 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 company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $67.82.

Insider Transactions at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,500 shares of the company'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 sale, the director directly owned 36,497 shares in the company, valued at $2,221,207.42. This represents a 6.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Christa S. Quarles sold 754 shares of the company's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $67.43, for a total value of $50,842.22. Following the completion of the sale, the director owned 137,241 shares in the company, valued at $9,254,160.63. This trade represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,247 shares of company stock valued at $6,422,823. 11.82% of the stock is owned by insiders.

About Affirm

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.