AXQ Capital LP Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

AXQ Capital LP purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 29,643 shares of the company’s stock, valued at approximately $457,000.

Several other hedge funds also recently made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC increased its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC bought a new stake in SoFi Technologies during the fourth quarter worth about $38,000. Finally, Brooklyn Investment Group acquired a new position in SoFi Technologies during the third quarter valued at approximately $28,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $12.87 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.24 and a beta of 1.79. The stock’s fifty day moving average price is $14.67 and its two-hundred day moving average price is $13.01. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the business earned $0.04 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 106,819 shares of company stock worth $1,447,044. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms have weighed in on SOFI. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, The Goldman Sachs Group boosted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $12.50.

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.