Virtu Financial LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Virtu Financial LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 209,778 shares of the company's stock, valued at approximately $1,649,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management purchased a new stake in SoFi Technologies in the third quarter valued at $3,766,000. Citizens Financial Group Inc. RI boosted its stake in SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock valued at $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of SoFi Technologies during the third quarter worth about $930,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the company's stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This trade represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,012,748 shares of company stock valued at $416,356,356 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

SOFI traded up $0.35 during trading on Friday, reaching $16.25. The company's stock had a trading volume of 41,564,175 shares, compared to its average volume of 47,581,461. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company's fifty day moving average price is $12.83 and its 200-day moving average price is $9.12. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $16.61. The company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 162.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Barclays increased their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group upped their target price 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. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $10.50.

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.