Qsemble Capital Management LP Acquires Shares of 118,279 SoFi Technologies, Inc. (NASDAQ:SOFI)

Qsemble Capital Management LP purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 118,279 shares of the company's stock, valued at approximately $930,000.

Several other hedge funds also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its holdings 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 valued at $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC grew its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock valued at $33,000 after acquiring an additional 1,981 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies in the third quarter valued at approximately $47,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.63 during midday trading on Wednesday, hitting $16.12. The company had a trading volume of 48,066,224 shares, compared to its average volume of 47,582,633. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $10.74 and a two-hundred day simple moving average of $8.34. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $16.16. The firm has a market capitalization of $17.49 billion, a price-to-earnings ratio of 161.42, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the previous year, the business earned ($0.03) earnings per share. SoFi Technologies's quarterly revenue was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on SOFI. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Barclays upped their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average target price of $9.80.

Insider Buying and Selling

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