13,551 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Bought by BIT Capital GmbH

Key Points

• BIT Capital GmbH has invested approximately $158,000 in SoFi Technologies by acquiring 13,551 shares during the first quarter.
• SoFi Technologies reported $0.08 EPS, exceeding analysts' estimates of $0.06, and its revenue increased by 42.8% year-over-year.
• Several institutional investors, including Elequin Capital LP and CIBC Private Wealth Group, have increased their holdings in SoFi Technologies, indicating positive interest in the stock.

BIT Capital GmbH bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 13,551 shares of the company's stock, valued at approximately $158,000.

A number of other institutional investors and hedge funds have also modified their holdings of SOFI. Two Sigma Advisers LP purchased a new stake in SoFi Technologies during the 4th quarter valued at about $299,980,000. Geode Capital Management LLC grew its stake in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares during the period. Northern Trust Corp grew its stake in shares of SoFi Technologies by 22.7% in the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock valued at $93,205,000 after buying an additional 1,121,550 shares during the period. Voloridge Investment Management LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $75,139,000. Finally, Azora Capital LP grew its stake in shares of SoFi Technologies by 1.6% in the 4th quarter. Azora Capital LP now owns 4,419,345 shares of the company's stock valued at $68,058,000 after buying an additional 71,277 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Activity

In other news, EVP Kelli Keough sold 10,267 shares of the firm's stock in a transaction on Friday, July 18th. The shares were 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 in the company, valued at approximately $5,345,360. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,181 shares of company stock worth $4,043,240. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SOFI shares. Morgan Stanley reissued an "underweight" rating and issued a $13.00 price target (up previously from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research note on Thursday, July 10th. Mizuho set a $26.00 price target on shares of SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday. Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating for the company. Finally, Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday. They issued a "neutral" rating and a $20.50 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $18.06.

SoFi Technologies Stock Up 2.7%

SoFi Technologies stock traded up $0.58 during mid-day trading on Monday, reaching $21.81. 59,557,469 shares of the company's stock were exchanged, compared to its average volume of 83,465,680. The company has a market cap of $24.11 billion, a P/E ratio of 45.44, a P/E/G ratio of 2.52 and a beta of 1.93. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $25.11. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company has a fifty day moving average of $17.59 and a 200-day moving average of $14.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. The firm's quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.