Brooklyn Investment Group Takes $28,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Brooklyn Investment Group bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,551 shares of the company’s stock, valued at approximately $28,000.

Other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP increased its stake in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the period. Mizuho Markets Americas LLC lifted its position in shares of SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares in the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of SoFi Technologies by 905.2% in the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock worth $5,694,000 after acquiring an additional 702,385 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Up 1.8 %

NASDAQ:SOFI opened at $16.41 on Friday. The firm has a market capitalization of $17.81 billion, a P/E ratio of 164.12, a PEG ratio of 2.68 and a beta of 1.60. The company’s fifty day moving average price is $11.23 and its 200-day moving average price is $8.51. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $16.61. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period last year, the company earned ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SOFI shares. Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.80.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 96,287 shares of company stock valued at $863,250. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies 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.