91,736 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Acquired by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 91,736 shares of the company’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its stake in shares of SoFi Technologies by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after acquiring an additional 1,498 shares during the period. EP Wealth Advisors LLC raised its stake in shares of SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after buying an additional 1,508 shares during the last quarter. River Street Advisors LLC lifted its holdings in shares of SoFi Technologies by 4.5% in the 4th quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock valued at $352,000 after buying an additional 1,526 shares during the period. SOA Wealth Advisors LLC. boosted its stake in shares of SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares during the last quarter. Finally, Kestra Private Wealth Services LLC grew its holdings in SoFi Technologies by 4.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 45,963 shares of the company’s stock worth $457,000 after acquiring an additional 1,974 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SOFI. Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft reduced their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Keefe, Bruyette & Woods decreased their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Barclays reduced their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.20.

SoFi Technologies Price Performance

SoFi Technologies stock traded down $0.51 during midday trading on Friday, reaching $6.65. The company’s stock had a trading volume of 62,989,671 shares, compared to its average volume of 47,269,703. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. SoFi Technologies, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $10.49. The stock’s 50 day simple moving average is $6.88 and its 200 day simple moving average is $7.35. The firm has a market capitalization of $7.03 billion, a PE ratio of -21.45, a P/E/G ratio of 1.58 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter. The business had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.06) earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.09 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto bought 30,715 shares of SoFi Technologies stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the completion of the transaction, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Anthony Noto bought 30,715 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $6.48 per share, with a total value of $199,033.20. Following the transaction, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

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.