Quantessence Capital LLC Buys Shares of 52,026 SoFi Technologies, Inc. (NASDAQ:SOFI)

Quantessence Capital LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,026 shares of the company’s stock, valued at approximately $801,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies in the 4th quarter worth $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies during the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the period. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC lifted its stake in SoFi Technologies by 116.3% in the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock worth $48,000 after acquiring an additional 1,744 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $10.69 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a market cap of $11.72 billion, a P/E ratio of 28.89, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The stock’s fifty day moving average price is $12.52 and its 200-day moving average price is $13.58.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the company posted $0.04 earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Needham & Company LLC upped their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $12.50.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 88,991 shares of company stock worth $1,151,367 over the last quarter. 2.60% of the stock is currently 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.