KRS Capital Management LLC Takes $83,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

KRS Capital Management LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,420 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC bought a new stake in SoFi Technologies during the fourth quarter worth $27,000. Westside Investment Management Inc. grew its holdings in SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. grew its holdings in SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in SoFi Technologies in the first quarter worth $37,000. Finally, Tortoise Investment Management LLC purchased a new position in SoFi Technologies in the fourth quarter worth $39,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SOFI. Deutsche Bank Aktiengesellschaft cut their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 30th. BTIG Research began coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating on the stock. Citigroup began coverage on SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.32.

SoFi Technologies Stock Performance

Shares of SOFI opened at $6.61 on Friday. The stock’s 50-day simple moving average is $6.94 and its 200 day simple moving average is $7.70. The stock has a market capitalization of $6.99 billion, a price-to-earnings ratio of -21.32, a price-to-earnings-growth ratio of 1.51 and a beta of 1.72. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. SoFi Technologies, Inc. has a 52-week low of $6.20 and a 52-week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.05) EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at approximately $2,906,704.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders have acquired 88,390 shares of company stock worth $597,569 in the last ninety days. 2.60% of the stock is currently owned by insiders.

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.