AQR Capital Management LLC Purchases 42,660 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

AQR Capital Management LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 58.8% during the second quarter, HoldingsChannel reports. The fund owned 115,186 shares of the company’s stock after purchasing an additional 42,660 shares during the quarter. AQR Capital Management LLC’s holdings in SoFi Technologies were worth $756,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SOFI. Insigneo Advisory Services LLC grew its stake in SoFi Technologies by 27.3% during the second quarter. Insigneo Advisory Services LLC now owns 15,602 shares of the company’s stock valued at $102,000 after acquiring an additional 3,349 shares in the last quarter. Marshall Wace LLP lifted its stake in shares of SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the period. Xponance Inc. increased its holdings in SoFi Technologies by 53.0% in the 2nd quarter. Xponance Inc. now owns 52,795 shares of the company’s stock worth $349,000 after acquiring an additional 18,285 shares in the last quarter. Ensign Peak Advisors Inc grew its holdings in SoFi Technologies by 8.7% during the 2nd quarter. Ensign Peak Advisors Inc now owns 759,158 shares of the company’s stock valued at $5,018,000 after buying an additional 60,495 shares in the last quarter. Finally, Westwood Holdings Group Inc. purchased a new stake in shares of SoFi Technologies during the 2nd quarter valued at about $70,000. 38.43% of the stock is owned by institutional investors.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s 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 sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred 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 directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

Shares of SOFI opened at $9.01 on Monday. The stock has a market cap of $9.53 billion, a P/E ratio of -29.06, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The stock’s 50-day moving average price is $7.56 and its two-hundred day moving average price is $7.23. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49.

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

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Barclays lowered their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.08.

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.