Qsemble Capital Management LP Takes $930,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Qsemble Capital Management LP acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, HoldingsChannel reports. The institutional investor acquired 118,279 shares of the company’s stock, valued at approximately $930,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Summit Trail Advisors LLC boosted its holdings in SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares during the last quarter. CIBC Asset Management Inc increased its stake in shares of SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC increased its stake in shares of SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the last quarter. Stratos Wealth Advisors LLC boosted its stake in SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares during the last quarter. Finally, NBC Securities Inc. increased its position in shares of SoFi Technologies by 12.7% in the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after purchasing an additional 1,081 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 1.3 %

SOFI stock opened at $15.49 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm’s 50-day simple moving average is $10.59 and its 200 day simple moving average is $8.28. The stock has a market cap of $16.81 billion, a PE ratio of 154.92, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $16.09.

SoFi Technologies (NASDAQ:SOFI) last released 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SOFI. Needham & Company LLC lifted 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. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $9.80.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by company insiders.

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.