Virtu Financial LLC Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Virtu Financial LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 209,778 shares of the company’s stock, valued at approximately $1,649,000.

Other hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its stake in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares in the last quarter. Geode Capital Management LLC lifted its holdings in SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares during the period. Dimensional Fund Advisors LP boosted its position in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after acquiring an additional 690,638 shares during the period. Finally, Marshall Wace LLP grew its holdings in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Mizuho lifted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $10.50.

SoFi Technologies Trading Down 0.3 %

NASDAQ:SOFI opened at $15.90 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $16.61. The stock has a market cap of $17.25 billion, a price-to-earnings ratio of 159.02, a PEG ratio of 2.65 and a beta of 1.77. The company’s 50 day moving average price is $12.67 and its 200-day moving average price is $9.06. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the business posted ($0.03) EPS. The company’s revenue was up 29.8% compared to the same quarter last year. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 5.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,960,748 shares of company stock worth $415,523,316. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Company Profile

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.