Point72 Asia Singapore Pte. Ltd. Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 12,612 shares of the company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors increased its position in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares during the period. Summit Trail Advisors LLC raised its stake in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the period. Oak Harbor Wealth Partners LLC boosted its position in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock worth $256,000 after buying an additional 1,054 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of several recent research reports. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. 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 report on Monday. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Two equities research 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’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $10.36.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value 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 11.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,960,748 shares of company stock worth $415,523,316. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 4.1 %

Shares of NASDAQ:SOFI opened at $15.65 on Friday. The business’s 50 day moving average price is $11.72 and its 200-day moving average price is $8.71. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $16.61. The firm has a market capitalization of $16.98 billion, a price-to-earnings ratio of 156.52, a price-to-earnings-growth ratio of 2.64 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share. On average, equities 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.