SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 348.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 256,078 shares of the company's stock after purchasing an additional 198,980 shares during the quarter. QRG Capital Management Inc.'s holdings in SoFi Technologies were worth $2,013,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 263.3% during the second 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 during the last quarter. Marshall Wace LLP boosted its position in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Mizuho Markets Americas LLC grew its stake in SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company's stock worth $20,132,000 after buying an additional 2,440,745 shares during the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock valued at $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Finally, Cetera Investment Advisers raised its stake in SoFi Technologies by 905.2% in the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company's stock valued at $5,694,000 after buying an additional 702,385 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares of the company's stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Kelli Keough sold 24,939 shares of the company's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company's stock, valued at $830,594.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies 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 directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock worth $904,677 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

SoFi Technologies stock traded up $1.11 during mid-day trading on Friday, hitting $13.01. The company had a trading volume of 82,893,977 shares, compared to its average volume of 47,225,809. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 130.10, a P/E/G ratio of 1.79 and a beta of 1.60. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $13.01. The company's fifty day moving average is $8.98 and its 200-day moving average is $7.68. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. 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 posted ($0.03) earnings per share. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

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

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.