Virtu Financial LLC Buys Shares of 14,582 Affirm Holdings, Inc. (NASDAQ:AFRM)

Key Points

• Virtu Financial LLC acquired a new stake in Affirm Holdings, buying 14,582 shares valued at approximately $659,000 in the first quarter.
• Many institutional investors, including KLP Kapitalforvaltning AS and Allworth Financial LP, have also adjusted their stakes in Affirm, with a combined 69.29% of the stock owned by hedge funds and institutional investors.
• Affirm's stock has seen significant activity, including insider sales totaling 163,114 shares over the past three months, while analysts have set price targets for the stock ranging from $58.00 to $80.00.

Virtu Financial LLC bought a new stake in shares of Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,582 shares of the company's stock, valued at approximately $659,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. KLP Kapitalforvaltning AS boosted its position in shares of Affirm by 0.4% in 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 period. Allworth Financial LP boosted 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 worth $27,000 after acquiring an additional 219 shares during the last quarter. HB Wealth Management LLC boosted its position in shares of Affirm by 2.2% during the first quarter. HB Wealth Management LLC now owns 11,471 shares of the company's stock worth $518,000 after acquiring an additional 252 shares during the last quarter. Amalgamated Bank boosted 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 worth $622,000 after acquiring an additional 280 shares during the last quarter. Finally, M&T Bank Corp boosted 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 worth $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 Transactions at Affirm

In other news, insider Katherine Adkins sold 6,489 shares of the stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $75.00, for a total value of $486,675.00. Following the sale, the insider owned 113,400 shares in the company, valued at $8,505,000. This represents a 5.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert O'hare sold 19,802 shares of the stock in a transaction on Monday, July 7th. The stock was sold at an average price of $70.03, for a total transaction of $1,386,734.06. The disclosure for this sale can be found here. Over the last three months, 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 Stock Up 5.4%

NASDAQ:AFRM opened at $76.89 on Wednesday. The firm has a market capitalization of $24.80 billion, a P/E ratio of -366.14, a PEG ratio of 2.70 and a beta of 3.63. Affirm Holdings, Inc. has a 1-year low of $25.35 and a 1-year high of $82.53. The company's fifty day moving average price is $66.53 and its 200-day moving average price is $58.00. The company has a debt-to-equity ratio of 2.55, a current ratio of 11.47 and a quick ratio of 11.47.

Analysts Set New Price Targets

AFRM has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price target on shares of Affirm from $45.00 to $58.00 and gave the company a "buy" rating in a research note on Monday, May 12th. Citigroup reissued an "overweight" rating on shares of Affirm in a research note on Monday, June 30th. Barclays increased their target price on shares of Affirm from $67.00 to $80.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Stephens assumed coverage on shares of Affirm in a research note on Thursday, June 12th. They issued an "equal weight" rating and a $69.00 target price on the stock. Finally, Royal Bank Of Canada increased their target price on shares of Affirm from $70.00 to $75.00 and gave the company a "sector perform" rating in a research note on Tuesday, July 8th. Ten analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $68.09.

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.

Want to see what other hedge funds are holding AFRM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Affirm Holdings, Inc. (NASDAQ:AFRM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.