Jump Financial LLC Makes New $2.91 Million Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Jump Financial LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 292,392 shares of the company's stock, valued at approximately $2,909,000.

Several other hedge funds have also modified their holdings of SOFI. Wedmont Private Capital raised its holdings in shares of SoFi Technologies by 13.2% during the fourth quarter. Wedmont Private Capital now owns 12,068 shares of the company's stock worth $120,000 after purchasing an additional 1,411 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of SoFi Technologies by 0.7% during the third quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company's stock valued at $1,536,000 after purchasing an additional 1,413 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company's stock worth $31,000 after purchasing an additional 1,500 shares during the period. River Street Advisors LLC lifted its holdings in shares of SoFi Technologies by 4.5% in the 4th quarter. River Street Advisors LLC now owns 35,414 shares of the company's stock worth $352,000 after purchasing an additional 1,526 shares during the last quarter. Finally, PFG Investments LLC boosted its position in SoFi Technologies by 5.5% during the 4th quarter. PFG Investments LLC now owns 29,655 shares of the company's stock valued at $295,000 after purchasing an additional 1,547 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SOFI. Jefferies Financial Group reduced their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 26th. Citigroup assumed coverage on shares of SoFi Technologies in a report on Monday, April 8th. They issued a "buy" rating and a $11.00 price objective for the company. Wedbush reissued an "underperform" rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Needham & Company LLC restated a "buy" rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $9.08.

Insider Activity at SoFi Technologies

In related news, CEO Anthony Noto acquired 28,775 shares of the company's stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares of the company's stock, valued at approximately $55,430,246.10. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company's stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Anthony Noto bought 28,775 shares of the stock in a transaction dated Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded up $0.17 on Monday, hitting $7.11. 52,684,945 shares of the company were exchanged, compared to its average volume of 53,135,379. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The firm has a market capitalization of $6.94 billion, a price-to-earnings ratio of -22.93 and a beta of 1.75. The company's 50 day moving average price is $7.32 and its two-hundred day moving average price is $7.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same quarter in the previous year, the firm posted ($0.05) EPS. The business's revenue for the quarter was up 26.2% on a year-over-year basis. Research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share 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.