ExodusPoint Capital Management LP acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 377,636 shares of the company’s stock, valued at approximately $2,292,000.
Several other large investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in SoFi Technologies by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock valued at $326,027,000 after acquiring an additional 4,846,633 shares in the last quarter. BlackRock Inc. lifted its stake in SoFi Technologies by 2.7% during the 3rd quarter. BlackRock Inc. now owns 31,679,161 shares of the company’s stock valued at $154,595,000 after acquiring an additional 826,805 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in SoFi Technologies during the 4th quarter valued at $83,643,000. State Street Corp lifted its stake in SoFi Technologies by 0.4% during the 3rd quarter. State Street Corp now owns 11,735,611 shares of the company’s stock valued at $57,270,000 after acquiring an additional 48,717 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in SoFi Technologies by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 11,567,145 shares of the company’s stock valued at $53,324,000 after acquiring an additional 589,623 shares in the last quarter. 37.13% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on SOFI shares. Citigroup raised their target price on SoFi Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. BTIG Research decreased their target price on SoFi Technologies from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Monday, July 31st. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $8.00 to $10.00 and gave the company a “neutral” rating in a research report on Tuesday, August 22nd. Morgan Stanley lowered SoFi Technologies from an “equal weight” rating to an “underweight” rating and raised their target price for the company from $6.50 to $7.00 in a research report on Thursday, July 13th. Finally, Piper Sandler lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, August 18th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.16.
SoFi Technologies Price Performance
SOFI opened at $8.66 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.29 and a current ratio of 1.65. SoFi Technologies, Inc. has a 52-week low of $4.24 and a 52-week high of $11.70. The stock has a market capitalization of $8.23 billion, a PE ratio of -34.64 and a beta of 1.81. The stock’s 50 day moving average price is $8.92 and its 200-day moving average price is $7.18.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last posted its earnings results on Monday, July 31st. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoFi Technologies had a negative return on equity of 3.76% and a negative net margin of 10.38%. The firm had revenue of $488.80 million for the quarter, compared to analysts’ expectations of $473.94 million. During the same period in the previous year, the firm earned ($0.12) earnings per share. The business’s revenue was up 37.3% compared to the same quarter last year. On average, equities research analysts predict that SoFi Technologies, Inc. will post -0.21 EPS for the current year.
Insider Activity
In other news, insider Aaron Webster sold 200,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $9.69, for a total transaction of $1,938,000.00. Following the transaction, the insider now directly owns 678,261 shares of the company’s stock, valued at $6,572,349.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Chad M. Borton sold 90,458 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.68, for a total value of $785,175.44. Following the sale, the insider now directly owns 229,449 shares of the company’s stock, valued at $1,991,617.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Aaron Webster sold 200,000 shares of the business’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $9.69, for a total value of $1,938,000.00. Following the completion of the sale, the insider now directly owns 678,261 shares in the company, valued at $6,572,349.09. The disclosure for this sale can be found here. Over the last three months, insiders have sold 390,458 shares of company stock valued at $3,652,175. Company insiders own 2.70% of the company’s stock.
About SoFi Technologies
SoFi Technologies, Inc provides various financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money. It also offers personal loans, student loans, home loans, and related services.
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