Oak Thistle LLC Purchases 91,176 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Oak Thistle LLC raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 354.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 116,901 shares of the company's stock after buying an additional 91,176 shares during the quarter. Oak Thistle LLC's holdings in SoFi Technologies were worth $1,360,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOFI. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after buying an additional 685 shares during the last quarter. Bank of New Hampshire increased its holdings in shares of SoFi Technologies by 33.3% during the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after buying an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in shares of SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock worth $68,000 after buying an additional 1,100 shares during the last quarter. Finally, Signaturefd LLC lifted its stake in shares of SoFi Technologies by 6.2% in the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company's stock valued at $250,000 after purchasing an additional 1,246 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.05 during trading on Thursday, reaching $21.51. The stock had a trading volume of 45,928,101 shares, compared to its average volume of 70,776,264. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The stock has a market capitalization of $23.78 billion, a PE ratio of 52.46, a P/E/G ratio of 3.64 and a beta of 1.91. The business's 50-day moving average price is $16.59 and its 200 day moving average price is $14.57. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $22.74.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the business earned $0.02 EPS. The firm's revenue was up 32.7% on a year-over-year basis. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on SOFI shares. Barclays increased their target price on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 8th. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Truist Financial raised their price target on SoFi Technologies from $14.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Finally, Citizens Jmp downgraded SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. 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 assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $16.78.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred 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 sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at $2,722,950.42. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is currently owned by company 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.