Concurrent Investment Advisors LLC Acquires 22,011 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Concurrent Investment Advisors LLC increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 32.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,416 shares of the company’s stock after purchasing an additional 22,011 shares during the period. Concurrent Investment Advisors LLC’s holdings in SoFi Technologies were worth $591,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth about $27,000. Kestra Private Wealth Services LLC boosted its position in SoFi Technologies by 4.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 45,963 shares of the company’s stock worth $457,000 after purchasing an additional 1,974 shares during the period. Victory Capital Management Inc. raised its position in shares of SoFi Technologies by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 119,488 shares of the company’s stock valued at $1,189,000 after purchasing an additional 23,436 shares during the period. M&T Bank Corp raised its holdings in SoFi Technologies by 56.3% in the 4th quarter. M&T Bank Corp now owns 44,260 shares of the company’s stock worth $440,000 after acquiring an additional 15,946 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its position in shares of SoFi Technologies by 31.0% during the 4th quarter. Wealthcare Advisory Partners LLC now owns 17,383 shares of the company’s stock worth $173,000 after purchasing an additional 4,112 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

SoFi Technologies Stock Down 0.5 %

NASDAQ SOFI opened at $7.99 on Tuesday. The stock’s 50 day simple moving average is $7.04 and its 200 day simple moving average is $7.22. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $10.49. The firm has a market cap of $8.45 billion, a PE ratio of -25.77, a price-to-earnings-growth ratio of 1.62 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company 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 firm earned ($0.06) earnings per share. The business’s revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SOFI. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Barclays reduced their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.14.

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.