SoFi Technologies, Inc. (NASDAQ:SOFI) Position Increased by Virtu Financial LLC

Virtu Financial LLC raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 3.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92,312 shares of the company’s stock after buying an additional 2,882 shares during the quarter. Virtu Financial LLC’s holdings in SoFi Technologies were worth $1,074,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Elequin Capital LP lifted its stake in SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after buying an additional 631 shares in the last quarter. Bank of New Hampshire increased its holdings in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Arkadios Wealth Advisors increased its holdings in shares of SoFi Technologies by 1.8% in the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company’s stock valued at $737,000 after purchasing an additional 1,092 shares during the period. Signaturefd LLC increased its holdings in shares of SoFi Technologies by 6.2% in the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company’s stock valued at $250,000 after purchasing an additional 1,246 shares during the period. Finally, Compass Capital Corp MA ADV increased its holdings in shares of SoFi Technologies by 12.6% in the 1st quarter. Compass Capital Corp MA ADV now owns 11,260 shares of the company’s stock valued at $131,000 after purchasing an additional 1,260 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This represents a 8.45% 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 this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the completion of the sale, the executive vice president directly owned 245,200 shares of the company’s stock, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Up 1.4%

Shares of SOFI stock opened at $22.42 on Tuesday. SoFi Technologies, Inc. has a 12 month low of $6.47 and a 12 month high of $25.11. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The business’s 50 day moving average is $18.62 and its two-hundred day moving average is $15.05. The company has a market cap of $24.78 billion, a PE ratio of 46.71, a price-to-earnings-growth ratio of 2.74 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same quarter last year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 42.8% compared to the same quarter last year. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of research reports. Citizens Jmp downgraded SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. TD Cowen initiated coverage on SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 target price on the stock. Stephens initiated coverage on SoFi Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 target price on the stock. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a report on Friday, August 1st. Finally, Needham & Company LLC increased their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.29.

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.