99,374 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Acquired by Entropy Technologies LP

Entropy Technologies LP bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 99,374 shares of the company’s stock, valued at approximately $725,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in SoFi Technologies by 3.5% during the 3rd 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 in the last quarter. Wells Fargo & Company MN grew its position in SoFi Technologies by 20.9% in the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after acquiring an additional 493,707 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its position in SoFi Technologies by 176.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in SoFi Technologies in the fourth quarter valued at approximately $38,595,000. Finally, Level Four Advisory Services LLC grew its position in SoFi Technologies by 40.1% in the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock valued at $279,000 after acquiring an additional 8,039 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective for the company. Jefferies Financial Group reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, July 2nd. Keefe, Bruyette & Woods reduced their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays reduced their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $9.29.

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought 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 of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a filing with the SEC, which is available through this link. In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the stock in a transaction dated Friday, May 3rd. The shares were bought 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 of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 88,390 shares of company stock valued at $597,569. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI traded up $0.17 during trading hours on Thursday, hitting $8.01. The company had a trading volume of 12,642,475 shares, compared to its average volume of 46,840,645. SoFi Technologies, Inc. has a fifty-two week low of $6.15 and a fifty-two week high of $11.70. 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 business has a fifty day simple moving average of $6.83 and a 200-day simple moving average of $7.44. The firm has a market cap of $8.47 billion, a P/E ratio of -25.52, a price-to-earnings-growth ratio of 1.83 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the company earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

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.