40,859 Shares in SoFi Technologies, Inc. $SOFI Acquired by AlphaQuest LLC

AlphaQuest LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 40,859 shares of the company’s stock, valued at approximately $744,000.

A number of other large investors have also bought and sold shares of SOFI. Brighton Jones LLC increased its stake in SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares in the last quarter. GAMMA Investing LLC increased its stake in SoFi Technologies by 39.8% during the 1st quarter. GAMMA Investing LLC now owns 8,283 shares of the company’s stock worth $96,000 after purchasing an additional 2,358 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in SoFi Technologies by 55.0% during the 1st quarter. Asset Management One Co. Ltd. now owns 8,114 shares of the company’s stock worth $94,000 after acquiring an additional 2,880 shares during the last quarter. Sequoia Financial Advisors LLC acquired a new position in SoFi Technologies during the 1st quarter worth approximately $181,000. Finally, Diversified Trust Co acquired a new position in SoFi Technologies during the 1st quarter worth approximately $127,000. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Up 3.4%

Shares of SoFi Technologies stock opened at $30.00 on Tuesday. The business has a fifty day simple moving average of $26.74 and a two-hundred day simple moving average of $20.05. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The company has a market capitalization of $35.92 billion, a price-to-earnings ratio of 62.50, a P/E/G ratio of 3.42 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same quarter last year, the firm posted $0.01 EPS. The company’s quarterly revenue was up 42.8% on a year-over-year basis. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SOFI shares. Rothschild & Co Redburn started coverage on SoFi Technologies in a research report on Friday, August 1st. They set a “neutral” rating and a $20.50 price target for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. JMP Securities reaffirmed a “market perform” rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Redburn Atlantic raised SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Finally, The Goldman Sachs Group increased their price objective on SoFi Technologies from $21.00 to $24.00 and gave the company a “neutral” rating in a report on Monday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $21.18.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,036 shares of the firm’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the sale, the executive vice president owned 275,374 shares of the company’s stock, valued at $7,801,345.42. This trade represents a 3.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the sale, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This represents a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,383 shares of company stock valued at $3,513,171 in the last ninety days. Insiders own 2.60% of the company’s stock.

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.