Trexquant Investment LP Increases Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Trexquant Investment LP lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 282.0% in the 4th quarter, Holdings Channel.com reports. The fund owned 617,831 shares of the company’s stock after buying an additional 456,096 shares during the quarter. Trexquant Investment LP’s holdings in SoFi Technologies were worth $9,515,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in SoFi Technologies by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 267,956 shares of the company’s stock valued at $2,106,000 after buying an additional 4,130 shares during the last quarter. FMR LLC raised its holdings in shares of SoFi Technologies by 154.8% during the 3rd quarter. FMR LLC now owns 92,632 shares of the company’s stock worth $728,000 after acquiring an additional 56,279 shares in the last quarter. CreativeOne Wealth LLC purchased a new stake in SoFi Technologies during the third quarter valued at $94,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of SoFi Technologies by 3.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 230,827 shares of the company’s stock valued at $1,814,000 after acquiring an additional 7,928 shares during the last quarter. Finally, Captrust Financial Advisors boosted its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares during the period. Institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the company’s 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 completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 over the last quarter. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $12.31 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company’s fifty day moving average price is $14.10 and its 200 day moving average price is $13.30. The stock has a market capitalization of $13.50 billion, a P/E ratio of 33.27, a P/E/G ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 in the previous year, the company earned $0.04 earnings per share. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SOFI shares. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.50.

About SoFi Technologies

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.