SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Second Line Capital LLC

Second Line Capital LLC increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 244,446 shares of the company’s stock after buying an additional 3,200 shares during the quarter. Second Line Capital LLC’s holdings in SoFi Technologies were worth $1,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Benjamin F. Edwards & Company Inc. boosted its position in shares of SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after acquiring an additional 86,545 shares during the last quarter. Mark Asset Management LP grew its stake in shares of SoFi Technologies by 79.9% during the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after buying an additional 151,265 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its holdings in shares of SoFi Technologies by 233.3% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after buying an additional 70,000 shares during the last quarter. Axxcess Wealth Management LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth $185,000. Finally, Miracle Mile Advisors LLC boosted its holdings in SoFi Technologies by 3.7% in the second quarter. Miracle Mile Advisors LLC now owns 84,350 shares of the company’s stock valued at $558,000 after acquiring an additional 3,000 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by insiders.

SoFi Technologies Price Performance

SOFI opened at $7.95 on Monday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average price is $7.37 and its 200 day moving average price is $7.16. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.49. The firm has a market cap of $8.40 billion, a price-to-earnings ratio of -25.65, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same period in the prior year, the firm earned ($0.06) EPS. The business’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on SOFI shares. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. BTIG Research began coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, Barclays cut their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.14.

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.