Level Four Advisory Services LLC Acquires Shares of 10,963 SoFi Technologies, Inc. (NASDAQ:SOFI)

Posted by Defense World Staff on Sep 28th, 2023

Level Four Advisory Services LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm acquired 10,963 shares of the company’s stock, valued at approximately $91,000.

A number of other institutional investors have also added to or reduced their stakes in SOFI. Moneta Group Investment Advisors LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at approximately $83,643,000. Norges Bank purchased a new stake in SoFi Technologies during the 4th quarter valued at approximately $44,799,000. State Street Corp grew its holdings in SoFi Technologies by 76.6% during the 2nd quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after buying an additional 5,068,034 shares in the last quarter. Vanguard Group Inc. grew its holdings in SoFi Technologies by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock valued at $326,027,000 after buying an additional 4,846,633 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in SoFi Technologies by 46.2% during the 4th quarter. Point72 Asset Management L.P. now owns 5,132,743 shares of the company’s stock valued at $23,662,000 after buying an additional 1,623,021 shares in the last quarter. 37.13% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SOFI. Citigroup raised their target price on shares of SoFi Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, August 17th. Oppenheimer lowered shares of SoFi Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, June 15th. Stephens began coverage on shares of SoFi Technologies in a report on Monday, July 24th. They issued an “equal weight” rating and a $7.00 target price for the company. Piper Sandler raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company a “neutral” rating in a report on Friday, August 18th. Finally, JPMorgan Chase & Co. raised their price target on SoFi Technologies from $8.00 to $10.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 22nd. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.17.

Read Our Latest Report on SOFI

SoFi Technologies Stock Up 2.7 %

NASDAQ:SOFI opened at $7.60 on Thursday. SoFi Technologies, Inc. has a twelve month low of $4.24 and a twelve month high of $11.70. The company has a market cap of $7.22 billion, a price-to-earnings ratio of -30.40 and a beta of 1.88. The stock has a fifty day simple moving average of $8.80 and a 200-day simple moving average of $7.44. The company has a current ratio of 1.65, a quick ratio of 0.29 and a debt-to-equity ratio of 1.23.

SoFi Technologies (NASDAQ:SOFI – Get Free Report) last released its earnings results on Monday, July 31st. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $488.80 million during the quarter, compared to the consensus estimate of $473.94 million. SoFi Technologies had a negative return on equity of 3.76% and a negative net margin of 10.38%. The business’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period last year, the company earned ($0.12) earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post -0.2 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 53,532 shares of SoFi Technologies stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $8.88, for a total value of $475,364.16. Following the completion of the sale, the chief technology officer now directly owns 160,597 shares in the company, valued at $1,426,101.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

SoFi Technologies Company Profile

(Free Report)

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.