Redpoint Investment Management Pty Ltd purchased a new stake in the shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get Rating) during the first quarter, according to the company in its latest filing with the Securities & Exchange Commission. The institutional investor purchased 17,463 shares of the company, valued at approximately $165,000.
Other institutional investors have also increased or reduced their stake in the company. Tuttle Capital Management LLC increased its position in SoFi Technologies by 6.3% during the fourth quarter. Tuttle Capital Management LLC now owns 12,901 shares of the company valued at $204,000 after acquiring 759 additional shares in the last quarter. TimeScale Financial Inc. increased its position in SoFi Technologies by 81.5% during the fourth quarter. TimeScale Financial Inc. now owns 2,319 shares of the company valued at $37,000 after acquiring 1,041 additional shares in the last quarter. Patriot Financial Group Insurance Agency LLC increased its position in SoFi Technologies by 119.4% during the third quarter. Patriot Financial Group Insurance Agency LLC now owns 1,975 shares of the company valued at $31,000 after acquiring 1,075 additional shares in the last quarter. Great Valley Advisor Group Inc. increased its position in SoFi Technologies by 6.8% during the fourth quarter. Great Valley Advisor Group Inc. now owns 19,684 shares of the company valued at $311,000 after acquiring an additional 1,252 shares in the last quarter. Finally, Transcend Wealth Collective LLC increased its position in SoFi Technologies by 8.8% during the fourth quarter. Transcend Wealth Collective LLC now owns 16,675 shares of the company valued at $264,000 after acquiring an additional 1,350 shares in the last quarter. 56.45% of the shares are currently held by institutional investors.
In other news, CEO Anthony Noto acquired 37,056 shares of the company in a transaction dated Tuesday, May 24. The shares were acquired at an average price of $6.72 per share, with a total value of $249,016.32. Following the purchase, the CEO now directly owns 3,276,895 shares of the company, valued at $22,020,734.40. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Additionally, director Harvey M. Schwartz acquired 15,000 shares of the company in a transaction dated Friday, May 13. The shares were purchased at an average cost of $6.50 per share, for a total transaction of $97,500.00. Following the purchase, the administrator now directly owns 229,852 shares of the company, valued at $1,494,038. Disclosure of this purchase can be found here. Last quarter, insiders purchased 257,753 shares of the company worth $1,561,711. 13.00% of the shares are held by insiders.
SOFI has been the subject of a number of analyst reports. Citigroup cut its price target on SoFi Technologies shares from $17.00 to $11.00 in a Thursday, May 12 research report. Wedbush cut its price target on SoFi Technologies shares from $20.00 to $15.00 in a Thursday, April 7 report. Piper Sandler upgraded SoFi Technologies shares from a “neutral” rating to an “overweight” rating and lowered its price target for the stock from $12.00 to $10.00 in a Monday 16 report. may. Oppenheimer cut his price target on SoFi Technologies shares from $18.00 to $13.00 and set an “outperform” rating on the stock in a Thursday, April 7 report. Finally, Moffett Nathanson began covering SoFi Technologies shares in a Tuesday, April 5 report. They issued a “buy” rating and a price target of $13.00 on the stock. Five investment analysts gave the stock a hold rating and seven gave the stock a buy rating. Based on MarketBeat data, SoFi Technologies has an average rating of “Moderate Buy” and an average price target of $14.04.
Shares of SoFi Technologies opened at $6.13 on Monday. The company has a market capitalization of $5.61 billion, a P/E ratio of -7.48 and a beta of 0.84. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. The company has a 50-day moving average price of $6.54 and a 200-day moving average price of $9.88. SoFi Technologies, Inc. has a 52-week low of $4.82 and a 52-week high of $24.65.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last reported quarterly earnings data on Tuesday, May 10. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). The company posted revenue of $321.70 million in the quarter, compared to analyst estimates of $283.99 million. SoFi Technologies has a negative net margin of 36.32% and a negative return on equity of 9.24%. SoFi Technologies revenue increased 48.9% compared to the same quarter last year. As a group, research analysts expect SoFi Technologies, Inc. to post -0.45 earnings per share for the current fiscal year.
About SoFi Technologies (Get an evaluation)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow 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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