GAMMA Investing LLC Purchases 90,406 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

GAMMA Investing LLC increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1,525.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 96,331 shares of the company's stock after buying an additional 90,406 shares during the period. GAMMA Investing LLC's holdings in SoFi Technologies were worth $1,120,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. Two Sigma Advisers LP bought a new stake in SoFi Technologies in the 4th quarter valued at $299,980,000. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Norges Bank bought a new stake in shares of SoFi Technologies in the fourth quarter valued at about $103,678,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $75,139,000. Finally, Amundi increased its position in SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after acquiring an additional 2,700,543 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SOFI. Barclays increased their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Citizens Jmp initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Truist Financial assumed coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. UBS Group raised their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus price target of $14.73.

SoFi Technologies Price Performance

SoFi Technologies stock traded up $0.83 during mid-day trading on Monday, reaching $14.92. The company had a trading volume of 64,925,370 shares, compared to its average volume of 49,716,577. The business has a fifty day simple moving average of $12.79 and a 200 day simple moving average of $13.96. The company has a market cap of $16.49 billion, a P/E ratio of 40.32, a P/E/G ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter last year, the business posted $0.02 EPS. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, 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 transaction, the director now owns 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the sale, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. This represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,787 shares of company stock worth $3,753,076 in the last ninety days. Company insiders own 2.60% of the company's stock.

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.