Coatue Management LLC Purchases New Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Coatue Management LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 834,200 shares of the company’s stock, valued at approximately $15,992,000. Coatue Management LLC owned 0.10% of SoFi Technologies at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SOFI. DAVENPORT & Co LLC bought a new stake in shares of SoFi Technologies in the second quarter valued at approximately $493,000. Usca Ria LLC acquired a new position in SoFi Technologies during the second quarter valued at approximately $249,000. Kovack Advisors Inc. acquired a new position in SoFi Technologies during the second quarter valued at approximately $305,000. NEXT Financial Group Inc acquired a new position in SoFi Technologies during the second quarter valued at approximately $47,000. Finally, Stratos Wealth Advisors LLC acquired a new position in SoFi Technologies during the second quarter valued at approximately $317,000. Institutional investors and hedge funds own 25.00% of the company’s stock.

Several brokerages have commented on SOFI. Morgan Stanley began coverage on shares of SoFi Technologies in a research report on Monday. They set an “overweight” rating and a $25.00 price objective for the company. Mizuho started coverage on shares of SoFi Technologies in a research report on Tuesday, September 14th. They set a “buy” rating and a $28.00 price objective for the company. Jefferies Financial Group started coverage on shares of SoFi Technologies in a report on Wednesday, September 22nd. They set a “buy” rating and a $25.00 price target for the company. Credit Suisse Group started coverage on shares of SoFi Technologies in a report on Thursday, September 9th. They set a “neutral” rating and a $16.50 price target for the company. Finally, Zacks Investment Research upgraded shares of SoFi Technologies from a “sell” rating to a “hold” rating in a report on Thursday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $24.92.

NASDAQ SOFI traded up $0.39 on Thursday, reaching $19.31. The company had a trading volume of 791,463 shares, compared to its average volume of 13,280,281. SoFi Technologies, Inc. has a fifty-two week low of $10.10 and a fifty-two week high of $28.26. The business has a 50 day moving average price of $15.74. The company has a quick ratio of 17.29, a current ratio of 17.29 and a debt-to-equity ratio of 0.55.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Thursday, August 12th. The company reported ($0.48) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.41). The company had revenue of $231.27 million during the quarter, compared to analyst estimates of $212.00 million. Research analysts expect that SoFi Technologies, Inc. will post -0.84 earnings per share for the current fiscal year.

In other SoFi Technologies news, Vice Chairman Thomas Clayton Wilkes sold 1,119,413 shares of the company’s stock in a transaction on Monday, September 13th. The shares were sold at an average price of $15.16, for a total transaction of $16,970,301.08. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Micah Heavener sold 20,000 shares of the company’s stock in a transaction on Tuesday, August 24th. The shares were sold at an average price of $14.83, for a total transaction of $296,600.00. Following the sale, the insider now directly owns 101,412 shares in the company, valued at approximately $1,503,939.96. The disclosure for this sale can be found here. Over the last 90 days, insiders purchased 24,950 shares of company stock valued at $349,513 and sold 1,145,663 shares valued at $17,366,901. Corporate insiders own 35.10% of the company’s stock.

SoFi Technologies Company Profile

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.

Further Reading: S&P/ASX 200 Index

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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