Gainplan LLC Takes $305,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Gainplan LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 26,193 shares of the company’s stock, valued at approximately $305,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SOFI. Berkshire Capital Holdings Inc. lifted its holdings in shares of SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after buying an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $3,703,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at $1,594,000. Highview Capital Management LLC DE purchased a new position in SoFi Technologies in the 4th quarter worth $1,152,000. Finally, Midwest Professional Planners LTD. bought a new stake in SoFi Technologies in the fourth quarter worth $836,000. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the completion of the sale, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. This represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently issued reports on SOFI shares. JMP Securities began coverage on SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 price objective on the stock. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Barclays lifted their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Citizens Jmp initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 price objective for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $14.36.

SoFi Technologies Stock Performance

Shares of SOFI opened at $13.46 on Thursday. The company has a 50-day simple moving average of $12.29 and a two-hundred day simple moving average of $14.02. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $14.88 billion, a PE ratio of 36.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same quarter last year, the business posted $0.02 EPS. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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.