SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Entropy Technologies LP

Entropy Technologies LP raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 52.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 110,600 shares of the company's stock after purchasing an additional 37,833 shares during the period. Entropy Technologies LP's holdings in SoFi Technologies were worth $869,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SOFI. 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 grew its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 0.7 %

NASDAQ SOFI traded down $0.10 during trading hours on Thursday, reaching $13.40. The company had a trading volume of 45,883,920 shares, compared to its average volume of 47,588,184. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.28 billion, a P/E ratio of 134.01, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60. The stock has a 50-day moving average of $9.57 and a 200 day moving average of $7.89. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $14.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the firm earned ($0.03) EPS. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SOFI shares. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Needham & Company LLC boosted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $9.32.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company's stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by corporate insiders.

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.