Deutsche Bank AG Has $18.01 Million Position in Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Deutsche Bank AG significantly increased its stake in Affirm Holdings, Inc. to 398,571 shares, worth approximately $18.01 million, marking a 1,130.2% rise during the first quarter.
• Institutional investors collectively own 69.29% of Affirm's stock, indicating strong interest from major financial players in the company.
• Despite recent analyst target price cuts, Affirm Holdings has a consensus rating of "Moderate Buy" with an average target price of $68.09.

Deutsche Bank AG increased its holdings in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) by 1,130.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 398,571 shares of the company's stock after buying an additional 366,171 shares during the period. Deutsche Bank AG owned about 0.13% of Affirm worth $18,011,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in AFRM. KLP Kapitalforvaltning AS increased its position in shares of Affirm by 0.4% in the 1st quarter. KLP Kapitalforvaltning AS now owns 49,100 shares of the company's stock valued at $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% in the 1st quarter. Allworth Financial LP now owns 563 shares of the company's stock valued at $27,000 after purchasing an additional 219 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Affirm by 2.2% in the 1st quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock valued at $518,000 after purchasing an additional 252 shares during the last quarter. Amalgamated Bank increased its position in shares of Affirm by 2.1% in the 1st quarter. Amalgamated Bank now owns 13,773 shares of the company's stock valued at $622,000 after purchasing an additional 280 shares during the last quarter. Finally, M&T Bank Corp increased its position in shares of Affirm by 1.9% in the 1st quarter. M&T Bank Corp now owns 21,416 shares of the company's stock valued at $968,000 after purchasing an additional 389 shares during the last quarter. 69.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Needham & Company LLC reissued a "hold" rating on shares of Affirm in a research report on Wednesday, July 2nd. Barclays upped their target price on shares of Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a report on Monday, June 30th. Morgan Stanley lowered their target price 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. UBS Group lowered their target price on shares of Affirm from $62.00 to $56.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Finally, BTIG Research cut shares of Affirm from a "buy" rating to a "neutral" rating in a report on Monday, July 14th. Eleven 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 has an average rating of "Moderate Buy" and an average price target of $68.09.

Affirm Stock Performance

Shares of NASDAQ:AFRM traded up $1.70 during trading on Friday, reaching $78.72. The stock had a trading volume of 4,574,885 shares, compared to its average volume of 5,054,808. Affirm Holdings, Inc. has a 52 week low of $28.15 and a 52 week high of $82.53. The firm has a market capitalization of $25.40 billion, a price-to-earnings ratio of -374.86, a P/E/G ratio of 2.92 and a beta of 3.63. The company has a quick ratio of 11.47, a current ratio of 11.47 and a debt-to-equity ratio of 2.55. The stock has a fifty day simple moving average of $67.82 and a two-hundred day simple moving average of $58.43.

Insider Buying and Selling

In other news, insider Katherine Adkins sold 59,267 shares of the firm's stock in a transaction on Monday, August 4th. The shares were sold at an average price of $75.02, for a total value of $4,446,210.34. Following the sale, the insider owned 113,400 shares in the company, valued at approximately $8,507,268. This trade represents a 34.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $152,150.00. Following the completion of the sale, the director owned 36,497 shares in the company, valued at approximately $2,221,207.42. The trade was a 6.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 163,114 shares of company stock valued at $11,825,169. 11.82% of the stock is owned by corporate insiders.

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.