451,452 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Purchased by Mark Asset Management LP

Mark Asset Management LP purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 451,452 shares of the company’s stock, valued at approximately $2,081,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Psagot Value Holdings Ltd. Israel lifted its position in shares of SoFi Technologies by 50.0% during the 4th quarter. Psagot Value Holdings Ltd. Israel now owns 6,000 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares during the period. US Bancorp DE lifted its position in shares of SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after acquiring an additional 2,000 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of SoFi Technologies during the 1st quarter valued at approximately $36,000. U.S. Capital Wealth Advisors LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at approximately $38,000. Finally, American International Group Inc. acquired a new stake in shares of SoFi Technologies during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 34.32% of the company’s stock.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto acquired 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were purchased at an average price of $4.73 per share, for a total transaction of $236,500.00. Following the completion of the purchase, the chief executive officer now directly owns 6,350,539 shares in the company, valued at $30,038,049.47. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Anthony Noto purchased 50,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were bought at an average price of $4.73 per share, for a total transaction of $236,500.00. Following the completion of the purchase, the chief executive officer now owns 6,350,539 shares of the company’s stock, valued at $30,038,049.47. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $5.47, for a total transaction of $1,094,000.00. Following the completion of the sale, the chief technology officer now owns 101,582 shares in the company, valued at approximately $555,653.54. The disclosure for this sale can be found here. Corporate insiders own 2.70% of the company’s stock.

SoFi Technologies Stock Up 0.7 %

NASDAQ:SOFI traded up $0.06 on Friday, reaching $8.18. The stock had a trading volume of 84,219,703 shares, compared to its average volume of 41,667,875. The company has a current ratio of 1.80, a quick ratio of 0.31 and a debt-to-equity ratio of 1.17. The company has a 50-day moving average of $5.80 and a 200 day moving average of $5.65. The stock has a market cap of $7.70 billion, a P/E ratio of -28.06 and a beta of 1.65. SoFi Technologies, Inc. has a 12-month low of $4.24 and a 12-month high of $8.81.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. SoFi Technologies had a negative net margin of 13.72% and a negative return on equity of 4.70%. The business had revenue of $460.20 million for the quarter, compared to analysts’ expectations of $436.78 million. During the same quarter last year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. On average, research analysts predict that SoFi Technologies, Inc. will post -0.18 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on SOFI shares. Truist Financial started coverage on shares of SoFi Technologies in a research note on Friday, May 12th. They set a “buy” rating and a $8.00 price objective for the company. Piper Sandler dropped their price objective on shares of SoFi Technologies from $8.00 to $6.50 in a research note on Wednesday, May 17th. Keefe, Bruyette & Woods raised their price objective on shares of SoFi Technologies from $5.00 to $5.50 in a research note on Thursday. Mizuho raised their price objective on shares of SoFi Technologies from $6.00 to $9.00 and gave the stock a “buy” rating in a research note on Wednesday, February 15th. Finally, Wedbush cut shares of SoFi Technologies from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $5.00 to $2.50 in a research note on Monday, May 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $7.00.

About SoFi Technologies

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company’s lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.