Entropy Technologies LP Acquires 37,833 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Entropy Technologies LP boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 52.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,600 shares of the company’s stock after buying an additional 37,833 shares during the quarter. Entropy Technologies LP’s holdings in SoFi Technologies were worth $869,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the third quarter valued at about $27,000. Allspring Global Investments Holdings LLC raised its position in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC increased its position in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at approximately $47,000. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the subject of several analyst reports. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.32.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 2.3 %

Shares of NASDAQ:SOFI opened at $13.50 on Thursday. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $9.44 and its 200 day moving average price is $7.85. The company has a market cap of $14.39 billion, a PE ratio of 135.01, a P/E/G ratio of 2.30 and a beta of 1.60. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. 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.