ETF Managers Group LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The fund bought 119,877 shares of the company’s stock, valued at approximately $728,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Valeo Financial Advisors LLC boosted its holdings in shares of SoFi Technologies by 26.8% in the 1st quarter. Valeo Financial Advisors LLC now owns 55,116 shares of the company’s stock worth $335,000 after purchasing an additional 11,656 shares during the period. Capital Advisors Wealth Management LLC boosted its holdings in shares of SoFi Technologies by 2.8% in the 1st quarter. Capital Advisors Wealth Management LLC now owns 75,323 shares of the company’s stock worth $457,000 after purchasing an additional 2,045 shares during the period. Drive Wealth Management LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth approximately $218,000. Venture Visionary Partners LLC boosted its holdings in shares of SoFi Technologies by 34.7% in the 1st quarter. Venture Visionary Partners LLC now owns 205,814 shares of the company’s stock worth $1,249,000 after purchasing an additional 53,065 shares during the period. Finally, Vontobel Holding Ltd. boosted its holdings in shares of SoFi Technologies by 24.9% in the 1st quarter. Vontobel Holding Ltd. now owns 451,554 shares of the company’s stock worth $2,741,000 after purchasing an additional 90,070 shares during the period. Hedge funds and other institutional investors own 32.73% of the company’s stock.
Insider Transactions at SoFi Technologies
In other news, insider Chad M. Borton sold 90,458 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.68, for a total value of $785,175.44. Following the completion of the transaction, the insider now directly owns 229,449 shares of the company’s stock, valued at approximately $1,991,617.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other SoFi Technologies news, CEO Anthony Noto bought 50,000 shares of the company’s stock in a transaction that occurred on Thursday, May 4th. The shares were purchased at an average cost of $4.73 per share, for a total transaction of $236,500.00. Following the purchase, the chief executive officer now directly owns 6,350,539 shares in the company, valued at $30,038,049.47. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Chad M. Borton sold 90,458 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.68, for a total value of $785,175.44. Following the transaction, the insider now owns 229,449 shares in the company, valued at $1,991,617.32. The disclosure for this sale can be found here. In the last three months, insiders sold 590,458 shares of company stock valued at $4,746,175. Corporate insiders own 2.70% of the company’s stock.
SoFi Technologies Stock Down 1.8 %
SoFi Technologies (NASDAQ:SOFI – Free Report) last released its quarterly earnings results on Monday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. The firm had revenue of $460.20 million during the quarter, compared to analyst estimates of $436.78 million. SoFi Technologies had a negative return on equity of 4.70% and a negative net margin of 13.72%. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.14) EPS. Equities research analysts predict that SoFi Technologies, Inc. will post -0.17 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
SOFI has been the subject of a number of research analyst reports. Bank of America lowered SoFi Technologies from a “buy” rating to a “neutral” rating and raised their price target for the stock from $9.50 to $10.00 in a research note on Friday, June 16th. Truist Financial raised their price target on SoFi Technologies from $8.00 to $11.00 in a research note on Monday, June 12th. BTIG Research initiated coverage on SoFi Technologies in a research note on Tuesday, June 13th. They set a “buy” rating and a $14.00 price target for the company. Wedbush lowered SoFi Technologies from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $5.00 to $2.50 in a research note on Monday, May 15th. Finally, Oppenheimer lowered SoFi Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 15th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $7.75.
SoFi Technologies Profile
SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.
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