SpiderRock Advisors LLC Buys 124,500 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

SpiderRock Advisors LLC lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 98.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 251,246 shares of the company's stock after purchasing an additional 124,500 shares during the period. SpiderRock Advisors LLC's holdings in SoFi Technologies were worth $1,975,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company's stock worth $585,000 after buying an additional 86,545 shares during the period. Mark Asset Management LP boosted its holdings in shares of SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company's stock worth $2,252,000 after buying an additional 151,265 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company's stock worth $1,948,000 after buying an additional 115,316 shares during the period. Texas Capital Bank Wealth Management Services Inc boosted its holdings in shares of SoFi Technologies by 233.3% in the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company's stock worth $661,000 after buying an additional 70,000 shares during the period. Finally, Diversify Advisory Services LLC boosted its holdings in shares of SoFi Technologies by 7.4% in the third quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company's stock worth $6,395,000 after buying an additional 56,245 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company's stock, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of the business's 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 transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms recently commented on SOFI. 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. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $9.32.

SoFi Technologies Stock Up 9.3 %

NASDAQ SOFI traded up $1.11 during trading on Friday, reaching $13.01. The company's stock had a trading volume of 83,464,239 shares, compared to its average volume of 63,361,096. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $13.87 billion, a PE ratio of 130.11, a PEG ratio of 1.94 and a beta of 1.60. The business has a 50-day moving average price of $9.08 and a 200-day moving average price of $7.72. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $13.01.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating 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 company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The company's quarterly revenue was up 29.8% compared to the same quarter last year. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

SoFi Technologies Profile

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.