Steele Capital Management Inc. Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Steele Capital Management Inc. bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 10,750 shares of the company’s stock, valued at approximately $107,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Westside Investment Management Inc. increased its holdings in shares of SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares in the last quarter. CNB Bank bought a new position in SoFi Technologies in the fourth quarter valued at about $50,000. Fortitude Family Office LLC acquired a new stake in SoFi Technologies in the fourth quarter worth about $60,000. Finally, Private Trust Co. NA raised its holdings in SoFi Technologies by 1,093.8% during the 4th quarter. Private Trust Co. NA now owns 7,640 shares of the company’s stock worth $76,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SOFI shares. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft started coverage on SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 target price on the stock. Wedbush reaffirmed an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research note on Tuesday. Mizuho reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Finally, Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price objective (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $9.08.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI traded down $0.33 during trading hours on Tuesday, hitting $6.72. 47,624,393 shares of the company were exchanged, compared to its average volume of 53,822,848. The company has a market cap of $6.56 billion, a price-to-earnings ratio of -17.79 and a beta of 1.75. The firm’s fifty day moving average is $7.61 and its 200 day moving average is $7.88. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. During the same period last year, the firm earned ($0.05) EPS. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

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.