Lecap Asset Management Ltd. Takes $872,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Lecap Asset Management Ltd. bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 87,645 shares of the company’s stock, valued at approximately $872,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares during the period. Westside Investment Management Inc. lifted its stake in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the period. Advisors Asset Management Inc. acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $36,000. Lazard Asset Management LLC lifted its stake in shares of SoFi Technologies by 116.0% in the third quarter. Lazard Asset Management LLC now owns 5,185 shares of the company’s stock valued at $41,000 after purchasing an additional 2,785 shares during the period. Finally, American International Group Inc. acquired a new stake in shares of SoFi Technologies in the second quarter valued at about $44,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently commented on SOFI shares. Jefferies Financial Group reduced their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Morgan Stanley restated an “underweight” rating and set a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 target price for the company. Finally, Mizuho cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies Trading Down 4.1 %

Shares of NASDAQ:SOFI traded down $0.31 during trading on Friday, reaching $7.33. The stock had a trading volume of 36,704,142 shares, compared to its average volume of 39,999,840. The business has a fifty day moving average price of $7.79 and a 200-day moving average price of $7.93. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The stock has a market cap of $7.16 billion, a P/E ratio of -19.29 and a beta of 1.75. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company’s revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) earnings per share. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

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.