Aigen Investment Management LP Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• Aigen Investment Management LP significantly increased its stake in SoFi Technologies by 275.5%, acquiring 67,873 shares valued at approximately $789,000.
• Multiple large investors, including CMG Global Holdings and Vanguard Group, have also boosted their holdings, with institutional investors now owning 38.43% of SoFi's stock.
• Wall Street analysts have mixed sentiments regarding SoFi, with the average rating being "Hold" and a consensus price target of $18.29, while individual predictions range from $14.00 to $26.00.

Aigen Investment Management LP increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 275.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,873 shares of the company's stock after acquiring an additional 49,797 shares during the quarter. Aigen Investment Management LP's holdings in SoFi Technologies were worth $789,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SOFI. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in SoFi Technologies by 5.6% in the 4th quarter. Russell Investments Group Ltd. now owns 52,564 shares of the company's stock worth $809,000 after purchasing an additional 2,774 shares during the period. Federated Hermes Inc. bought a new position in SoFi Technologies in the 4th quarter worth approximately $323,000. Invesco Ltd. boosted its stake in SoFi Technologies by 84.7% in the 4th quarter. Invesco Ltd. now owns 1,408,801 shares of the company's stock worth $21,696,000 after purchasing an additional 645,994 shares during the period. Finally, Raymond James Financial Inc. bought a new position in SoFi Technologies in the 4th quarter worth approximately $14,479,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 2.2%

Shares of SOFI stock traded down $0.52 during trading hours on Thursday, reaching $23.29. 51,693,264 shares of the company's stock were exchanged, compared to its average volume of 60,392,645. SoFi Technologies, Inc. has a 1 year low of $6.69 and a 1 year high of $25.11. The stock has a market cap of $25.74 billion, a PE ratio of 48.52, a PEG ratio of 2.94 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The stock's fifty day moving average price is $19.03 and its two-hundred day moving average price is $15.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $801.94 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The company's revenue was up 42.8% on a year-over-year basis. Research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $21.80, for a total value of $223,820.60. Following the sale, the executive vice president directly owned 245,200 shares of the company's stock, valued at $5,345,360. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 273,181 shares of company stock worth $4,043,240. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Rothschild & Co Redburn assumed coverage on SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. TD Cowen assumed coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 price target for the company. Truist Financial set a $23.00 price target on SoFi Technologies in a research note on Monday, August 4th. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Finally, Stephens started coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $18.29.

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.