Edgestream Partners L.P. Acquires 271,831 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Edgestream Partners L.P. raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 214.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 398,552 shares of the company's stock after purchasing an additional 271,831 shares during the period. Edgestream Partners L.P.'s holdings in SoFi Technologies were worth $4,635,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $27,000. Garde Capital Inc. bought a new position in SoFi Technologies during the 1st quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies in the fourth quarter valued at $32,000. Copia Wealth Management boosted its holdings in shares of SoFi Technologies by 3,316.0% during the first quarter. Copia Wealth Management now owns 3,416 shares of the company's stock valued at $40,000 after acquiring an additional 3,316 shares during the period. Finally, Elequin Capital LP grew its position in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SOFI shares. Barclays lifted their price target on SoFi Technologies from $12.00 to $18.00 and gave the company an "equal weight" rating in a report on Tuesday, July 8th. Cowen started coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating on the stock. Stephens began coverage on SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Finally, The Goldman Sachs Group initiated coverage on SoFi Technologies in a research note on Monday. They set a "neutral" rating and a $19.00 target price on the stock. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.78.

SoFi Technologies Stock Performance

SoFi Technologies stock traded up $0.61 on Thursday, reaching $22.00. 36,661,271 shares of the stock were exchanged, compared to its average volume of 53,375,076. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $22.13. The firm has a fifty day moving average price of $15.65 and a two-hundred day moving average price of $14.31. The stock has a market cap of $24.31 billion, a PE ratio of 53.75, a PEG ratio of 3.51 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the business earned $0.02 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is currently 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.