Point72 DIFC Ltd Invests $3.22 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Point72 DIFC Ltd bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 409,506 shares of the company’s stock, valued at approximately $3,219,000.

Other large investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of SoFi Technologies by 7.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 535,894 shares of the company’s stock valued at $3,913,000 after acquiring an additional 37,984 shares in the last quarter. Tidal Investments LLC raised its stake in SoFi Technologies by 15.2% during the 1st quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock valued at $246,000 after purchasing an additional 4,459 shares during the period. Comerica Bank lifted its holdings in SoFi Technologies by 27.1% in the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock worth $174,000 after purchasing an additional 5,071 shares in the last quarter. Cetera Investment Advisers boosted its stake in SoFi Technologies by 905.2% in the 1st quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock worth $5,694,000 after purchasing an additional 702,385 shares during the period. Finally, GAMMA Investing LLC grew its holdings in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were 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 in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock worth $863,250 over the last quarter. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $15.88 on Wednesday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $16.61. The company has a market capitalization of $17.23 billion, a price-to-earnings ratio of 158.82, a PEG ratio of 2.65 and a beta of 1.77. The firm’s 50-day moving average is $11.39 and its 200 day moving average is $8.59.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Mizuho upped their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $10.36.

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.