SoFi Technologies, Inc. (NASDAQ:SOFI) Stake Lifted by Prentice Capital Management LP

Prentice Capital Management LP boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 66.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 250,117 shares of the company's stock after purchasing an additional 100,000 shares during the period. SoFi Technologies comprises approximately 4.4% of Prentice Capital Management LP's investment portfolio, making the stock its 6th biggest position. Prentice Capital Management LP's holdings in SoFi Technologies were worth $1,966,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the 3rd quarter valued at $28,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the 3rd quarter worth $39,000. Finally, GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 96,287 shares of company stock worth $863,250. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOFI shares. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average target price of $10.36.

SoFi Technologies Stock Up 2.8 %

Shares of SOFI traded up $0.44 during trading hours on Wednesday, hitting $16.32. The stock had a trading volume of 40,262,406 shares, compared to its average volume of 47,488,414. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a 50 day simple moving average of $11.55 and a 200-day simple moving average of $8.65. The firm has a market capitalization of $17.71 billion, a P/E ratio of 164.12, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $16.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the business posted ($0.03) EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.