CNB Bank Invests $50,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

CNB Bank purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,000 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after buying an additional 2,567,797 shares in the last quarter. BlackRock Inc. lifted its stake in shares of SoFi Technologies by 6.4% during the 2nd quarter. BlackRock Inc. now owns 38,122,793 shares of the company’s stock worth $317,944,000 after purchasing an additional 2,302,565 shares during the last quarter. Moneta Group Investment Advisors LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter worth $83,643,000. State Street Corp lifted its stake in shares of SoFi Technologies by 12.9% during the 2nd quarter. State Street Corp now owns 13,680,519 shares of the company’s stock worth $114,096,000 after purchasing an additional 1,567,782 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of SoFi Technologies by 4.2% during the 1st quarter. Geode Capital Management LLC now owns 12,051,675 shares of the company’s stock worth $73,154,000 after purchasing an additional 484,530 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Down 0.3 %

Shares of NASDAQ SOFI traded down $0.02 during mid-day trading on Friday, reaching $7.11. The company’s stock had a trading volume of 36,870,029 shares, compared to its average volume of 35,029,844. The stock has a 50-day moving average of $7.72 and a two-hundred day moving average of $7.90. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. SoFi Technologies, Inc. has a 1-year low of $4.45 and a 1-year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. SoFi Technologies’s quarterly revenue was up 34.7% on a year-over-year basis. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of a number of analyst reports. Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Mizuho decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Finally, The Goldman Sachs Group increased their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $9.08.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is currently owned by insiders.

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.