Trexquant Investment LP Has $6.07 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Trexquant Investment LP reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 30.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,129 shares of the company's stock after selling 264,028 shares during the period. Trexquant Investment LP owned about 0.06% of SoFi Technologies worth $6,071,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in SoFi Technologies during the 4th quarter worth $71,349,000. Dimensional Fund Advisors LP acquired a new stake in SoFi Technologies during the fourth quarter valued at approximately $38,595,000. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SoFi Technologies by 241.4% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company's stock valued at $38,772,000 after acquiring an additional 2,755,197 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its holdings in SoFi Technologies by 241.4% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company's stock worth $38,733,000 after purchasing an additional 2,755,197 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 3.5% during the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock worth $610,458,000 after purchasing an additional 2,567,797 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoFi Technologies

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

SoFi Technologies Price Performance

SoFi Technologies stock traded down $0.06 during mid-day trading on Wednesday, hitting $7.02. The company's stock had a trading volume of 27,878,964 shares, compared to its average volume of 51,915,289. The stock has a market capitalization of $7.42 billion, a P/E ratio of -22.90 and a beta of 1.75. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The stock's fifty day moving average price is $7.26 and its two-hundred day moving average price is $7.83. SoFi Technologies, Inc. has a twelve month low of $5.09 and a twelve month high of $11.70.

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

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research reports. Wedbush restated an "underperform" rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Morgan Stanley reissued an "underweight" rating and set a $6.50 price target (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an "underperform" rating to a "market perform" rating and increased their price objective for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Needham & Company LLC reissued a "buy" rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Jefferies Financial Group dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a research note on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $9.08.

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.