Eaton Vance Management acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 350,532 shares of the company’s stock, valued at approximately $1,711,000.
A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. Fairfield Bush & CO. grew its stake in shares of SoFi Technologies by 41.6% in the first quarter. Fairfield Bush & CO. now owns 16,000 shares of the company’s stock worth $151,000 after acquiring an additional 4,700 shares during the period. Bank of New York Mellon Corp grew its stake in shares of SoFi Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company’s stock worth $11,973,000 after acquiring an additional 22,288 shares during the period. US Bancorp DE grew 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 worth $28,000 after acquiring an additional 2,000 shares during the period. Panagora Asset Management Inc. bought a new stake in shares of SoFi Technologies in the first quarter worth approximately $435,000. Finally, Cibc World Market Inc. grew its stake in shares of SoFi Technologies by 4.7% in the first quarter. Cibc World Market Inc. now owns 54,765 shares of the company’s stock worth $518,000 after acquiring an additional 2,454 shares during the period. 34.32% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
SOFI has been the subject of a number of research analyst reports. Oppenheimer lifted their price target on shares of SoFi Technologies from $6.00 to $7.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 31st. Credit Suisse Group cut their target price on shares of SoFi Technologies from $8.00 to $7.50 and set a “neutral” rating for the company in a research report on Tuesday, January 31st. Piper Sandler cut their target price on shares of SoFi Technologies from $8.50 to $7.50 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Mizuho boosted their target price on shares of SoFi Technologies from $6.00 to $9.00 and gave the company a “buy” rating in a research report on Wednesday, February 15th. Finally, Wedbush boosted their target price on shares of SoFi Technologies from $6.00 to $8.00 in a research report on Monday, January 30th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $8.42.
SoFi Technologies Price Performance
SoFi Technologies (NASDAQ:SOFI – Get Rating) last released its earnings results on Monday, January 30th. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.04. SoFi Technologies had a negative net margin of 19.53% and a negative return on equity of 6.17%. The firm had revenue of $443.40 million for the quarter, compared to the consensus estimate of $425.84 million. During the same quarter in the previous year, the firm earned ($0.15) earnings per share. The company’s quarterly revenue was up 58.4% compared to the same quarter last year. Research analysts expect that SoFi Technologies, Inc. will post -0.21 EPS for the current fiscal year.
Insider Transactions at SoFi Technologies
In other news, General Counsel Robert S. Lavet sold 200,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $8.06, for a total value of $1,612,000.00. Following the transaction, the general counsel now owns 1,253,269 shares of the company’s stock, valued at $10,101,348.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, General Counsel Robert S. Lavet sold 200,000 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $8.06, for a total value of $1,612,000.00. Following the transaction, the general counsel now owns 1,253,269 shares of the company’s stock, valued at $10,101,348.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Noto bought 682,500 shares of the stock in a transaction dated Friday, December 9th. The stock was bought at an average cost of $4.36 per share, for a total transaction of $2,975,700.00. Following the acquisition, the chief executive officer now directly owns 4,636,186 shares of the company’s stock, valued at approximately $20,213,770.96. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,040,100 shares of company stock valued at $4,577,304. 13.00% of the stock is currently owned by corporate insiders.
About SoFi Technologies
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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