Entropy Technologies LP Acquires 37,833 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Entropy Technologies LP increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 52.0% during the third quarter, Holdings Channel.com reports. The firm owned 110,600 shares of the company’s stock after buying an additional 37,833 shares during the period. Entropy Technologies LP’s holdings in SoFi Technologies were worth $869,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Envestnet Portfolio Solutions Inc. purchased a new stake in SoFi Technologies during the first quarter worth $79,000. Empowered Funds LLC lifted its stake in shares of SoFi Technologies by 22.2% during the 1st quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock worth $349,000 after purchasing an additional 8,707 shares during the last quarter. Swiss National Bank boosted its position in SoFi Technologies by 1.1% during the first quarter. Swiss National Bank now owns 1,798,400 shares of the company’s stock valued at $13,128,000 after purchasing an additional 19,600 shares in the last quarter. QRG Capital Management Inc. grew its stake in SoFi Technologies by 4.0% in the first quarter. QRG Capital Management Inc. now owns 53,849 shares of the company’s stock valued at $393,000 after purchasing an additional 2,095 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in SoFi Technologies by 341.0% in the first quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock worth $318,000 after purchasing an additional 33,732 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 2.3 %

SOFI stock opened at $13.50 on Thursday. The company has a market capitalization of $14.39 billion, a P/E ratio of 135.01, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $14.44. The firm’s fifty day simple moving average is $9.44 and its 200-day simple moving average is $7.85. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company 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% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent analyst reports. Barclays boosted their price objective 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. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.32.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Company 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.