Patriot Financial Group Insurance Agency LLC Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Patriot Financial Group Insurance Agency LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,735 shares of the company’s stock, valued at approximately $71,000.

Several other large investors have also recently added to or reduced their stakes in SOFI. Norges Bank acquired a new stake in SoFi Technologies in the 4th quarter valued at approximately $71,349,000. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. grew its position in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after purchasing an additional 5,057,233 shares during the period. Finally, Dimensional Fund Advisors LP acquired a new position in shares of SoFi Technologies during the fourth quarter valued at about $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SOFI shares. Deutsche Bank Aktiengesellschaft cut their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays lowered their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Finally, BTIG Research assumed coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus price target of $9.14.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,921,285 shares of company stock valued at $135,057,462. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Trading Down 2.4 %

Shares of SoFi Technologies stock traded down $0.19 during trading on Wednesday, hitting $7.58. The company’s stock had a trading volume of 14,132,116 shares, compared to its average volume of 45,825,578. The stock has a market cap of $8.01 billion, a price-to-earnings ratio of -24.35, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $10.49. The stock has a 50-day moving average price of $6.93 and a two-hundred day moving average price of $7.24. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the previous year, the company posted ($0.06) EPS. The business’s revenue was up 20.2% on a year-over-year basis. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS 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.