Coatue Management LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 834,200 shares of the company’s stock, valued at approximately $15,992,000.
A number of other large investors have also recently made changes to their positions in SOFI. Mine & Arao Wealth Creation & Management LLC. bought a new stake in shares of SoFi Technologies during the 2nd quarter worth $27,000. Baldwin Brothers Inc. MA purchased a new position in SoFi Technologies in the 2nd quarter worth $29,000. NEXT Financial Group Inc purchased a new position in SoFi Technologies in the 2nd quarter worth $47,000. Northwestern Mutual Wealth Management Co. purchased a new position in SoFi Technologies in the 2nd quarter worth $61,000. Finally, Parisi Gray Wealth Management purchased a new position in SoFi Technologies in the 2nd quarter worth $81,000. 25.00% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on SOFI. Zacks Investment Research upgraded shares of SoFi Technologies from a “sell” rating to a “hold” rating in a research report on Thursday. Credit Suisse Group began coverage on shares of SoFi Technologies in a research report on Thursday, September 9th. They issued a “neutral” rating and a $16.50 target price on the stock. Morgan Stanley began coverage on shares of SoFi Technologies in a research report on Monday. They issued an “overweight” rating and a $25.00 target price on the stock. Jefferies Financial Group started coverage on shares of SoFi Technologies in a research report on Wednesday, September 22nd. They issued a “buy” rating and a $25.00 target price on the stock. Finally, Mizuho started coverage on shares of SoFi Technologies in a research report on Tuesday, September 14th. They issued a “buy” rating and a $28.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $24.92.
Shares of SOFI stock traded up $0.39 during mid-day trading on Thursday, reaching $19.31. The stock had a trading volume of 791,463 shares, compared to its average volume of 13,280,281. The company has a 50-day moving average price of $15.74. SoFi Technologies, Inc. has a 52-week low of $10.10 and a 52-week high of $28.26. The company has a current ratio of 17.29, a quick ratio of 17.29 and a debt-to-equity ratio of 0.55.
SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Thursday, August 12th. The company reported ($0.48) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.41). The business had revenue of $231.27 million for the quarter, compared to analysts’ expectations of $212.00 million. Equities analysts predict that SoFi Technologies, Inc. will post -0.84 EPS for the current year.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. The company operates through three reportable segments: Lending, Financial Services, and Technology Platform. Its financial services allow its members to borrow, save, spend, invest, and protect their money. The company offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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