a16z Perennial Management L.P. Grows Position in Affirm Holdings, Inc. $AFRM

a16z Perennial Management L.P. raised its stake in Affirm Holdings, Inc. (NASDAQ:AFRM) by 678.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 103,220 shares of the company’s stock after acquiring an additional 89,960 shares during the period. Affirm makes up 0.6% of a16z Perennial Management L.P.’s investment portfolio, making the stock its 21st largest position. a16z Perennial Management L.P.’s holdings in Affirm were worth $7,683,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. increased its stake in Affirm by 111.3% in the third quarter. Assetmark Inc. now owns 338 shares of the company’s stock valued at $25,000 after purchasing an additional 178 shares during the last quarter. Triumph Capital Management purchased a new position in Affirm in the third quarter valued at approximately $31,000. CoreCap Advisors LLC increased its stake in Affirm by 431.3% in the fourth quarter. CoreCap Advisors LLC now owns 441 shares of the company’s stock valued at $33,000 after purchasing an additional 358 shares during the last quarter. Larson Financial Group LLC increased its stake in Affirm by 74.5% in the third quarter. Larson Financial Group LLC now owns 499 shares of the company’s stock valued at $36,000 after purchasing an additional 213 shares during the last quarter. Finally, Bogart Wealth LLC increased its stake in Affirm by 2,381.0% in the fourth quarter. Bogart Wealth LLC now owns 521 shares of the company’s stock valued at $39,000 after purchasing an additional 500 shares during the last quarter. 69.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Affirm

In other Affirm news, Director Noel Bertram Watson sold 2,000 shares of the firm’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $65.00, for a total value of $130,000.00. Following the completion of the sale, the director owned 36,076 shares of the company’s stock, valued at approximately $2,344,940. This trade represents a 5.25% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 11.01% of the stock is currently owned by corporate insiders.

Affirm Price Performance

Shares of NASDAQ AFRM opened at $73.65 on Monday. The company has a debt-to-equity ratio of 2.39, a current ratio of 11.32 and a quick ratio of 11.32. The stock has a fifty day moving average price of $58.55 and a 200 day moving average price of $62.51. Affirm Holdings, Inc. has a 1-year low of $42.10 and a 1-year high of $100.00. The company has a market cap of $24.67 billion, a PE ratio of 66.95, a P/E/G ratio of 4.24 and a beta of 3.70.

Affirm (NASDAQ:AFRM) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.13. Affirm had a return on equity of 11.17% and a net margin of 9.63%.The firm had revenue of $943.95 million during the quarter, compared to the consensus estimate of $995.27 million. During the same period last year, the company earned $0.01 earnings per share. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. Sell-side analysts forecast that Affirm Holdings, Inc. will post 1.25 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have commented on AFRM. Needham & Company LLC increased their price target on shares of Affirm from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, May 8th. Compass Point restated a “buy” rating and set a $68.00 target price on shares of Affirm in a research report on Wednesday, February 18th. UBS Group raised their target price on shares of Affirm from $78.00 to $82.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Cantor Fitzgerald raised their target price on shares of Affirm from $61.00 to $80.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 21st. Finally, BMO Capital Markets assumed coverage on shares of Affirm in a research report on Tuesday, April 21st. They set an “outperform” rating and a $75.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $86.20.

Affirm Company Profile

Affirm Holdings, Inc is a financial technology company that provides point-of-sale consumer lending and payments solutions for online and in-store purchases. Its core product is a buy-now-pay-later (BNPL) platform that enables consumers to split purchases into fixed, transparent installment loans with no hidden fees. Affirm offers a range of financing options through merchant integrations, a consumer-facing mobile app and virtual card capabilities, and tools for merchants to offer alternative payment methods at checkout.