Well Done LLC grew its stake in SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) by 640.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,161 shares of the company’s stock after purchasing an additional 81,446 shares during the period. Well Done LLC’s holdings in SoFi Technologies were worth $572,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of the stock. Moneta Group Investment Advisors LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $83,643,000. Norges Bank purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $44,799,000. State Street Corp lifted its position in shares of SoFi Technologies by 76.6% during the 2nd quarter. State Street Corp now owns 11,686,894 shares of the company’s stock valued at $61,590,000 after buying an additional 5,068,034 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock valued at $326,027,000 after buying an additional 4,846,633 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its position in shares of SoFi Technologies by 6,058.8% during the 4th quarter. International Assets Investment Management LLC now owns 3,489,580 shares of the company’s stock valued at $4,316,000 after buying an additional 3,432,920 shares in the last quarter. Hedge funds and other institutional investors own 32.73% of the company’s stock.
Insider Buying and Selling
In other SoFi Technologies news, CEO Anthony Noto acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $4.73 per share, with a total value of $236,500.00. Following the transaction, the chief executive officer now owns 6,350,539 shares of the company’s stock, valued at $30,038,049.47. The transaction was disclosed in a filing with the SEC, which is available at this link. In other SoFi Technologies news, CEO Anthony Noto acquired 50,000 shares of the business’s stock in a transaction that occurred on Thursday, May 4th. The stock was purchased at an average cost of $4.73 per share, with a total value of $236,500.00. Following the transaction, the chief executive officer now owns 6,350,539 shares of the company’s stock, valued at $30,038,049.47. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CMO Webb Lauren Stafford sold 100,000 shares of the firm’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $9.29, for a total value of $929,000.00. Following the transaction, the chief marketing officer now owns 335,945 shares of the company’s stock, valued at $3,120,929.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 590,458 shares of company stock valued at $4,746,175. 2.70% of the stock is currently owned by insiders.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Bank of America lowered SoFi Technologies from a “buy” rating to a “neutral” rating and increased their target price for the company from $9.50 to $10.00 in a research report on Friday, June 16th. Piper Sandler downgraded SoFi Technologies from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $6.50 to $8.00 in a research note on Friday, June 16th. Keefe, Bruyette & Woods increased their price objective on SoFi Technologies from $5.00 to $5.50 in a research note on Thursday, June 8th. BTIG Research began coverage on SoFi Technologies in a research note on Tuesday, June 13th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Oppenheimer downgraded SoFi Technologies from an “outperform” rating to a “market perform” rating in a research note on Thursday, June 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $7.75.
SoFi Technologies Trading Down 4.2 %
Shares of SOFI traded down $0.37 during midday trading on Friday, reaching $8.34. The company had a trading volume of 98,384,634 shares, compared to its average volume of 64,717,368. SoFi Technologies, Inc. has a 1-year low of $4.24 and a 1-year high of $10.23. The stock has a market cap of $7.85 billion, a PE ratio of -26.90 and a beta of 1.65. The firm has a 50 day simple moving average of $6.71 and a 200-day simple moving average of $6.13. The company has a quick ratio of 0.31, a current ratio of 1.80 and a debt-to-equity ratio of 1.17.
SoFi Technologies (NASDAQ:SOFI – Free Report) last issued its earnings results on Monday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. The business had revenue of $460.20 million during the quarter, compared to the consensus estimate of $436.78 million. SoFi Technologies had a negative return on equity of 4.70% and a negative net margin of 13.72%. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same period last year, the company earned ($0.14) EPS. Research analysts forecast that SoFi Technologies, Inc. will post -0.17 EPS for the current fiscal year.
SoFi Technologies Profile
SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.