Y Intercept Hong Kong Ltd Takes $1.92 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Y Intercept Hong Kong Ltd purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 243,598 shares of the company's stock, valued at approximately $1,915,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Performance Advisors LLP acquired a new position in SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the third quarter valued at $28,000. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 4.3 %

Shares of SOFI traded up $0.65 during mid-day trading on Wednesday, reaching $15.94. 47,456,695 shares of the stock traded hands, compared to its average volume of 47,604,297. The firm has a market cap of $17.30 billion, a price-to-earnings ratio of 153.70, a P/E/G ratio of 2.66 and a beta of 1.77. The stock has a fifty day simple moving average of $12.35 and a 200 day simple moving average of $8.96. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $16.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm's revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the sale, the director now directly owns 482,083 shares in the company, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the firm's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,960,748 shares of company stock worth $415,523,316 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SOFI has been the topic of several research analyst reports. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Bank of America reiterated an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.