SoFi Technologies, Inc. (NASDAQ:SOFI) Position Boosted by Hexagon Capital Partners LLC

Hexagon Capital Partners LLC increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,837 shares of the company’s stock after buying an additional 4,715 shares during the quarter. Hexagon Capital Partners LLC’s holdings in SoFi Technologies were worth $243,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SOFI. Vanguard Group Inc. lifted its position in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after purchasing an additional 1,366,271 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted 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 worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. lifted its position in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after acquiring an additional 6,870,610 shares during the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after acquiring an additional 199,949 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI remained flat at $6.64 during mid-day trading on Friday. 19,048,609 shares of the stock were exchanged, compared to its average volume of 46,943,051. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The firm has a market capitalization of $7.02 billion, a PE ratio of -21.42, a PEG ratio of 1.45 and a beta of 1.70. The stock has a fifty day simple moving average of $6.84 and a 200 day simple moving average of $7.31.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto purchased 30,715 shares of the stock in a transaction dated Friday, June 14th. The shares were bought at an average cost of $6.48 per share, with a total value of $199,033.20. Following the completion of the transaction, the chief executive officer now owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Noto bought 30,715 shares of SoFi Technologies stock in a transaction that occurred on Friday, June 14th. The stock was bought at an average price of $6.48 per share, with a total value of $199,033.20. Following the purchase, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at approximately $52,629,549.12. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SOFI. Barclays cut their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Wedbush reiterated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.20.

SoFi Technologies Company Profile

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.